Magna International Inc. (TSE:MG) Declares $0.49 Quarterly Dividend

Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Friday, November 14th, TickerTech Dividends reports. Shareholders of record on Friday, November 28th will be paid a dividend of 0.485 per share on Friday, November 28th. This represents a c) annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Friday, November 14th.

Magna International Price Performance

TSE MG traded up C$0.38 during trading hours on Wednesday, hitting C$70.18. 266,139 shares of the company’s stock traded hands, compared to its average volume of 1,414,753. The company has a market capitalization of C$19.78 billion, a PE ratio of 19.23, a PEG ratio of 0.45 and a beta of 1.88. The firm’s 50-day moving average is C$64.96 and its 200-day moving average is C$58.24. Magna International has a 52-week low of C$43.25 and a 52-week high of C$71.08. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MG shares. BMO Capital Markets upgraded shares of Magna International to a “strong-buy” rating in a research report on Monday, November 3rd. Cfra Research raised shares of Magna International to a “hold” rating in a research report on Monday, August 4th. Finally, Citigroup upgraded Magna International to a “hold” rating in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Magna International presently has an average rating of “Hold” and an average target price of C$61.00.

About Magna International

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.