Magna International Inc. (TSE:MG) Plans Quarterly Dividend of $0.64

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA announced a quarterly dividend on Friday, May 3rd, Zacks reports. Stockholders of record on Friday, May 17th will be given a dividend of 0.642 per share on Friday, May 31st. This represents a $2.57 annualized dividend and a dividend yield of 4.02%. The ex-dividend date is Thursday, May 16th. This is an increase from Magna International's previous quarterly dividend of $0.64.

Magna International Stock Performance

MG traded down C$2.31 on Friday, reaching C$63.89. 1,042,364 shares of the stock were exchanged, compared to its average volume of 1,031,196. The company has a debt-to-equity ratio of 58.83, a current ratio of 1.06 and a quick ratio of 0.83. The company's 50-day moving average price is C$70.74 and its 200 day moving average price is C$73.08. The firm has a market capitalization of C$18.35 billion, a PE ratio of 11.17, a PEG ratio of 0.58 and a beta of 1.68. Magna International has a fifty-two week low of C$62.90 and a fifty-two week high of C$87.00.

Magna International (TSE:MG - Get Free Report) NYSE: MGA last posted its quarterly earnings results on Friday, February 9th. The company reported C$1.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of C$1.99 by C($0.18). The business had revenue of C$14.23 billion for the quarter, compared to analysts' expectations of C$14.30 billion. Magna International had a return on equity of 10.89% and a net margin of 2.83%. As a group, sell-side analysts forecast that Magna International will post 8.2060185 EPS for the current fiscal year.

Insider Transactions at Magna International

In other Magna International news, Senior Officer Boris Shulkin sold 4,646 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of C$55.05, for a total value of C$255,762.30. In other Magna International news, Senior Officer Boris Shulkin sold 4,646 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total value of C$255,762.30. Also, Senior Officer Bruce Cluney sold 9,292 shares of Magna International stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$54.15, for a total value of C$503,164.59. Over the last quarter, insiders have sold 34,844 shares of company stock valued at $1,887,403. 6.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Royal Bank of Canada reduced their target price on Magna International from C$61.00 to C$60.00 and set a "sector perform" rating for the company in a research note on Monday, February 12th.

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.