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

Magna International Inc. (TSE:MG) (NYSE:MGA) declared a quarterly dividend on Friday, November 14th, TickerTech Dividends reports. Stockholders 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 dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, November 14th.

Magna International Price Performance

TSE:MG traded up C$0.46 during trading hours on Wednesday, reaching C$70.26. 332,275 shares of the company were exchanged, compared to its average volume of 1,415,107. The stock’s 50-day moving average is C$64.96 and its 200-day moving average is C$58.24. Magna International has a twelve month low of C$43.25 and a twelve month high of C$71.08. The firm has a market cap of C$19.80 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 0.45 and a beta of 1.88. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81.

Analyst Upgrades and Downgrades

MG has been the topic of a number of research reports. Cfra Research raised shares of Magna International to a “hold” rating in a research note on Monday, August 4th. Citigroup upgraded Magna International to a “hold” rating in a research report on Friday, October 10th. Finally, BMO Capital Markets raised Magna International to a “strong-buy” rating in a research note on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.