Magna International Inc. (NYSE:MGA) (TSE:MG) declared a quarterly dividend on Thursday, August 8th, NASDAQ reports. Shareholders of record on Friday, August 23rd will be given a dividend of 0.365 per share on Friday, September 6th. This represents a $1.46 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Thursday, August 22nd.

Magna International has increased its dividend payment by an average of 14.5% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Magna International has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Magna International to earn $6.60 per share next year, which means the company should continue to be able to cover its $1.46 annual dividend with an expected future payout ratio of 22.1%.

Magna International stock opened at $47.82 on Wednesday. The stock has a market cap of $14.97 billion, a P/E ratio of 7.13, a P/E/G ratio of 1.27 and a beta of 1.63. The company has a quick ratio of 0.84, a current ratio of 1.21 and a debt-to-equity ratio of 0.26. Magna International has a twelve month low of $42.51 and a twelve month high of $57.85. The company’s 50-day moving average price is $48.51 and its two-hundred day moving average price is $49.55.

Magna International (NYSE:MGA) (TSE:MG) last released its quarterly earnings results on Thursday, August 8th. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.54 by $0.05. The firm had revenue of $10.13 billion for the quarter, compared to analysts’ expectations of $9.91 billion. Magna International had a net margin of 6.35% and a return on equity of 18.19%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.67 EPS. Equities analysts anticipate that Magna International will post 6.26 earnings per share for the current fiscal year.

Several research analysts have recently commented on MGA shares. Wolfe Research cut shares of Magna International from an “outperform” rating to a “peer perform” rating in a report on Wednesday, May 1st. Zacks Investment Research cut shares of Magna International from a “hold” rating to a “sell” rating and set a $51.00 target price on the stock. in a report on Tuesday, July 16th. Credit Suisse Group started coverage on shares of Magna International in a report on Wednesday, June 26th. They set a “neutral” rating and a $55.00 target price on the stock. Barclays reaffirmed a “hold” rating and set a $51.00 target price on shares of Magna International in a report on Thursday, July 18th. Finally, ValuEngine cut shares of Magna International from a “hold” rating to a “sell” rating in a report on Thursday, May 9th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $57.56.

About Magna International

Magna International Inc designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.

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Dividend History for Magna International (NYSE:MGA)

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