Magna International Inc. Declares Quarterly Dividend of $0.48 (NYSE:MGA)

Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Friday, May 3rd, Zacks reports. Investors of record on Friday, May 17th will be given a dividend of 0.475 per share on Friday, May 31st. This represents a $1.90 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date is Thursday, May 16th.

Magna International has increased its dividend payment by an average of 4.8% annually over the last three years and has increased its dividend every year for the last 5 years. Magna International has a dividend payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Magna International to earn $7.38 per share next year, which means the company should continue to be able to cover its $1.90 annual dividend with an expected future payout ratio of 25.7%.

Magna International Stock Down 3.6 %

Shares of NYSE MGA traded down $1.72 during mid-day trading on Friday, hitting $46.70. 3,988,059 shares of the stock traded hands, compared to its average volume of 1,676,348. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.71 and a current ratio of 1.06. The stock has a fifty day moving average price of $52.00 and a 200-day moving average price of $53.92. The company has a market cap of $13.42 billion, a price-to-earnings ratio of 11.07, a PEG ratio of 0.49 and a beta of 1.69. Magna International has a 52 week low of $46.11 and a 52 week high of $65.27.

Magna International (NYSE:MGA) (TSE:MG) last announced its quarterly earnings data on Friday, May 3rd. The company reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.18). Magna International had a net margin of 2.83% and a return on equity of 13.15%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $10.97 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. Research analysts anticipate that Magna International will post 6.13 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MGA. Citigroup decreased their price objective on shares of Magna International from $60.00 to $57.00 and set a “neutral” rating for the company in a report on Monday, February 12th. CIBC lowered their price target on Magna International from $61.00 to $59.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Barclays reduced their price objective on Magna International from $63.00 to $62.00 and set an “equal weight” rating for the company in a report on Thursday, April 11th. Royal Bank of Canada lowered their target price on shares of Magna International from $61.00 to $60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th. Finally, Evercore lowered shares of Magna International from an “outperform” rating to an “in-line” rating and reduced their price target for the stock from $75.00 to $62.00 in a research note on Monday, April 15th. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $62.50.

Magna International Company Profile

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.