Magna International (TSE:MG) Price Target Raised to C$61.00 at Bank of America

Magna International (TSE:MG - Free Report) NYSE: MGA had its target price hoisted by Bank of America from C$58.00 to C$61.00 in a research note published on Monday,BayStreet.CA reports.

Several other brokerages have also issued reports on MG. Veritas upgraded shares of Magna International to a "hold" rating in a research report on Thursday, April 24th. Royal Bank Of Canada lowered shares of Magna International from a "moderate buy" rating to a "hold" rating in a research report on Friday, April 11th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, Magna International presently has an average rating of "Hold" and a consensus price target of C$61.00.

Magna International Stock Performance

Shares of MG traded down C$0.28 during mid-day trading on Monday, hitting C$51.28. 144,228 shares of the company traded hands, compared to its average volume of 1,786,198. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14. The stock has a 50-day moving average price of C$48.80 and a two-hundred day moving average price of C$53.45. Magna International has a 1 year low of C$43.25 and a 1 year high of C$66.42. The stock has a market cap of C$10.37 billion, a price-to-earnings ratio of 9.63, a P/E/G ratio of 0.45 and a beta of 1.60.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 30th were given a dividend of $0.485 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.94 annualized dividend and a yield of 3.78%. Magna International's dividend payout ratio (DPR) is 48.07%.

Magna International Company Profile

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.