Magna International Inc. Plans Quarterly Dividend of $0.48 (NYSE:MGA)

Magna International Inc. (NYSE:MGA - Get Free Report) 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 dividend yield of 4.07%. The ex-dividend date is Thursday, May 16th.

Magna International has raised its dividend payment by an average of 4.8% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Magna International has a payout ratio of 26.2% indicating that 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 Trading Down 3.6 %

NYSE MGA traded down $1.72 during trading on Friday, hitting $46.70. The stock had a trading volume of 3,988,059 shares, compared to its average volume of 1,676,348. The company has a market capitalization of $13.42 billion, a PE ratio of 11.07, a PEG ratio of 0.49 and a beta of 1.69. Magna International has a twelve month low of $46.11 and a twelve month high of $65.27. The company has a quick ratio of 0.71, a current ratio of 1.06 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $52.00 and a 200 day moving average price of $53.93.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last announced 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). The business had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $10.97 billion. Magna International had a return on equity of 13.15% and a net margin of 2.83%. Magna International's quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.11 earnings per share. As a group, equities research analysts forecast that Magna International will post 6.13 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MGA shares. BMO Capital Markets dropped their price objective on shares of Magna International from $67.00 to $65.00 and set an "outperform" rating on the stock in a research report on Monday, February 12th. Evercore cut Magna International from an "outperform" rating to an "in-line" rating and lowered their price objective for the stock from $75.00 to $62.00 in a research report on Monday, April 15th. Barclays cut their target price on Magna International from $63.00 to $62.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 11th. Wells Fargo & Company lowered their price target on Magna International from $60.00 to $54.00 and set an "equal weight" rating for the company in a report on Monday, February 12th. Finally, Raymond James cut their price objective on shares of Magna International from $62.00 to $60.00 and set a "market perform" rating on the stock in a report on Monday, February 12th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Magna International currently has an average 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.