Magna International Inc. (MG) To Go Ex-Dividend on November 13th

Magna International Inc. (TSE:MG) (NYSE:MGA) announced a quarterly dividend on Friday, November 13th. Investors of record on Friday, November 27th will be given a dividend of $0.4950 per share on Friday, November 27th. This represents a $1.98 annualized dividend and a yield of 2.3%. The ex-dividend date is Friday, November 13th.

Magna International Stock Performance

Shares of MG opened at C$87.01 on Wednesday. Magna International has a 52-week low of C$63.93 and a 52-week high of C$101.10. The stock has a 50 day moving average price of C$90.67 and a 200 day moving average price of C$87.53. The company has a market capitalization of C$22.48 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 0.45 and a beta of 1.98. The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 55.54.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, October 30th. The company reported C$2.61 earnings per share for the quarter. The business had revenue of C$14.32 billion for the quarter. Magna International had a return on equity of 6.97% and a net margin of 1.97%. Research analysts predict that Magna International will post 8.89 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. BMO Capital Markets lowered shares of Magna International from a “strong-buy” rating to a “hold” rating and cut their price target for the company from C$105.17 to C$97.90 in a report on Thursday, September 17th. Canadian Imperial Bank of Commerce lowered shares of Magna International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of C$97.90.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and Asia. With operations in 28 countries, we combine global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, we bring together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.