Magna International Inc. (TSE:MG) Given Consensus Recommendation of "Reduce" by Brokerages

Key Points

• Magna International Inc. has received a consensus recommendation of "Reduce" from six brokerages, with one analyst giving a sell rating and five a hold rating.
• The average 12-month target price for Magna shares is C$61.00, after a recent raise from Bank of America.
• Magna announced a quarterly dividend of $0.485 per share, yielding 3.2% with a payout ratio of 45.07%.

Shares of Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA have earned a consensus recommendation of "Reduce" from the six brokerages that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is C$61.00.

MG has been the topic of several analyst reports. Bank of America upped their target price on Magna International from C$58.00 to C$61.00 in a report on Monday, June 16th. Cfra Research raised shares of Magna International to a "hold" rating in a research report on Monday, August 4th. Finally, Citigroup raised shares of Magna International to a "hold" rating in a research report on Friday.

Magna International Price Performance

Shares of MG opened at C$60.97 on Tuesday. Magna International has a 12-month low of C$43.25 and a 12-month high of C$69.47. The business has a 50-day simple moving average of C$63.17 and a two-hundred day simple moving average of C$55.27. The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The stock has a market cap of C$17.18 billion, a PE ratio of 14.31, a PEG ratio of 0.45 and a beta of 1.96.

Magna International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 29th were paid a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.94 annualized dividend and a yield of 3.2%. Magna International's dividend payout ratio (DPR) is currently 45.07%.

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.

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