Magna International Inc. (MGA) To Go Ex-Dividend on May 16th

Magna International Inc. (NYSE:MGA) (TSE:MG) announced 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 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 16th.

Magna International has raised its dividend payment by an average of 4.8% annually over the last three years and has raised its dividend every year for the last 5 years. Magna International has a payout ratio of 26.2% meaning its dividend is sufficiently covered by earnings. 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 %

Magna International stock opened at $46.70 on Friday. Magna International has a fifty-two week low of $46.11 and a fifty-two week high of $65.27. 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 firm has a 50 day moving average price of $52.00 and a 200 day moving average price of $53.93. The company has a market capitalization of $13.42 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 0.47 and a beta of 1.69.

Magna International (NYSE:MGA) (TSE:MG) last posted its earnings results on Friday, May 3rd. The company reported $1.08 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $10.97 billion. During the same quarter last year, the business posted $1.11 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Research analysts expect that Magna International will post 6.13 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on MGA shares. Raymond James lowered their target price on shares of Magna International from $62.00 to $60.00 and set a “market perform” rating for the company in a research note on Monday, February 12th. UBS Group boosted their target price on shares of Magna International from $59.00 to $60.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Barclays lowered their target price on shares of Magna International from $63.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, April 11th. JPMorgan Chase & Co. boosted their target price on shares of Magna International from $69.00 to $71.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Finally, Wells Fargo & Company lowered their target price on shares of Magna International from $60.00 to $54.00 and set an “equal weight” rating for the company in a research note on Monday, February 12th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Magna International currently 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.