Magna International (TSE:MG) Trading Down 4.9% – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA) dropped 4.9% during mid-day trading on Thursday . The company traded as low as C$51.12 and last traded at C$51.12. Approximately 63,008 shares changed hands during trading, a decline of 96% from the average daily volume of 1,659,405 shares. The stock had previously closed at C$53.77.

Analyst Ratings Changes

Several brokerages have recently issued reports on MG. Royal Bank of Canada raised Magna International from a “hold” rating to a “moderate buy” rating in a report on Friday, January 24th. Wolfe Research raised shares of Magna International from a “strong sell” rating to a “hold” rating in a report on Thursday, December 5th. Finally, The Goldman Sachs Group lowered Magna International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 11th.

Magna International Trading Down 2.7 %

The company has a 50 day moving average price of C$54.52 and a 200 day moving average price of C$57.44. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14. The firm has a market cap of C$9.85 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60.

Magna International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, March 14th were given a dividend of $0.485 per share. This represents a $1.94 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Friday, February 28th. This is a boost from Magna International’s previous quarterly dividend of $0.48. Magna International’s dividend payout ratio is currently 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.