Magna International, Inc. (NYSE:MGA) (TSE:MG) announced a quarterly dividend on Friday, August 11th, RTT News reports. Shareholders of record on Friday, September 1st will be given a dividend of 0.275 per share on Friday, September 15th. This represents a $1.10 dividend on an annualized basis and a yield of 2.35%.
Magna International has raised its dividend by an average of 16.0% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Magna International has a dividend payout ratio of 19.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Magna International to earn $6.35 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 17.3%.
Magna International (NYSE:MGA) traded down 1.163% during midday trading on Friday, reaching $46.305. The company’s stock had a trading volume of 322,926 shares. The company has a 50 day moving average of $47.11 and a 200-day moving average of $44.30. Magna International has a 1-year low of $36.77 and a 1-year high of $48.90. The company has a market capitalization of $17.61 billion, a P/E ratio of 8.465 and a beta of 1.44.
Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, August 11th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.47 by $0.01. The company had revenue of $9.68 billion during the quarter, compared to analyst estimates of $9.50 billion. Magna International had a return on equity of 20.58% and a net margin of 5.76%. The business’s revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.41 earnings per share. Equities research analysts anticipate that Magna International will post $5.76 earnings per share for the current fiscal year.
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Several equities analysts have recently commented on MGA shares. ValuEngine lowered Magna International from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. TD Securities raised Magna International from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $55.00 in a report on Friday, May 12th. BidaskClub raised Magna International from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Zacks Investment Research lowered Magna International from a “buy” rating to a “hold” rating in a report on Thursday, May 18th. Finally, Edward Jones lowered Magna International from a “buy” rating to a “hold” rating in a report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $51.25.
About Magna International
Magna International Inc (Magna) is a global automotive supplier. The Company’s segments are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, active driver assistance, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing.
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