Magna International Inc. (TSE:MG) Increases Dividend to $0.64 Per Share

Magna International Inc. (TSE:MG) (NYSE:MGA) declared a quarterly dividend on Friday, May 3rd, Zacks reports. Investors of record on Friday, May 17th will be paid a dividend of 0.642 per share on Friday, May 31st. This represents a $2.57 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date is Thursday, May 16th. This is a boost from Magna International’s previous quarterly dividend of $0.64.

Magna International Stock Performance

Shares of MG stock traded down C$2.31 during mid-day trading on Friday, reaching C$63.89. The stock had a trading volume of 1,042,364 shares, compared to its average volume of 1,031,196. Magna International has a 1-year low of C$62.90 and a 1-year high of C$87.00. The firm has a market cap of C$18.35 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 0.58 and a beta of 1.68. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 58.83. The business’s fifty day moving average is C$70.93 and its 200-day moving average is C$73.13.

Magna International (TSE:MG) (NYSE:MGA) last posted its earnings results on Friday, February 9th. The company reported C$1.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.18). The business had revenue of C$14.23 billion for the quarter, compared to analyst estimates of C$14.30 billion. Magna International had a net margin of 2.83% and a return on equity of 10.89%. On average, research analysts forecast that Magna International will post 8.2060185 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Royal Bank of Canada dropped their price target on shares of Magna International from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a research note on Monday, February 12th.

Insider Transactions at Magna International

In other news, Senior Officer Boris Shulkin sold 4,646 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total transaction of C$255,762.30. In other Magna International news, Senior Officer Boris Shulkin sold 4,646 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total value of C$255,762.30. Also, Director Seetarama Swamy Kotagiri sold 20,906 shares of the stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total value of C$1,128,476.61. Insiders sold 34,844 shares of company stock worth $1,887,403 in the last 90 days. Insiders own 6.10% of the company’s stock.

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.