Magna International Inc. (NYSE:MGA) Plans Quarterly Dividend of $0.49

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Investors of record on Friday, May 16th will be paid a dividend of 0.485 per share on Friday, May 30th. This represents a $1.94 annualized dividend and a dividend yield of 5.22%. The ex-dividend date is Friday, May 16th.

Magna International has raised its dividend by an average of 3.4% annually over the last three years and has raised its dividend every year for the last 6 years. Magna International has a dividend payout ratio of 33.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Magna International to earn $6.66 per share next year, which means the company should continue to be able to cover its $1.94 annual dividend with an expected future payout ratio of 29.1%.

Magna International Trading Up 2.1%

NYSE:MGA opened at $37.13 on Wednesday. Magna International has a one year low of $30.39 and a one year high of $48.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.77 and a current ratio of 1.08. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 10.58, a price-to-earnings-growth ratio of 0.63 and a beta of 1.52. The business’s 50-day simple moving average is $34.43 and its 200 day simple moving average is $38.99.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings results on Friday, May 2nd. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.12). The firm had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.66 billion. Magna International had a net margin of 2.36% and a return on equity of 12.78%. Magna International’s revenue for the quarter was down 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.08 EPS. As a group, sell-side analysts predict that Magna International will post 5.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Veritas upgraded Magna International to a “hold” rating in a report on Thursday, April 24th. BMO Capital Markets cut their price objective on Magna International from $47.00 to $41.00 and set an “outperform” rating for the company in a report on Monday, May 5th. UBS Group reduced their price target on shares of Magna International from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th. TD Securities lifted their price target on shares of Magna International from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Morgan Stanley dropped their price objective on Magna International from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Magna International presently has an average rating of “Hold” and a consensus target price of $42.13.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.