Magna International (TSE:MG) Sets New 1-Year Low – Here’s Why

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) reached a new 52-week low on Monday . The company traded as low as C$47.75 and last traded at C$48.58, with a volume of 61539 shares. The stock had previously closed at C$48.70.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group cut Magna International from a “hold” rating to a “strong sell” rating in a report on Wednesday, December 11th. Royal Bank of Canada upgraded Magna International from a “hold” rating to a “moderate buy” rating in a research note on Friday, January 24th. Finally, Wolfe Research upgraded shares of Magna International from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 5th.

Magna International Stock Up 0.1 %

The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The business has a fifty day simple moving average of C$54.14 and a two-hundred day simple moving average of C$57.37. The company has a market capitalization of C$9.90 billion, a price-to-earnings ratio of 9.19, a P/E/G ratio of 0.45 and a beta of 1.60.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, March 14th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.96%. This is a boost from Magna International’s previous quarterly dividend of $0.48. The ex-dividend date was Friday, February 28th. Magna International’s dividend payout ratio is 48.07%.

About Magna International

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.