Magna International (TSE:MG) Hits New 52-Week Low – Time to Sell?

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

Analyst Upgrades and Downgrades

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

Magna International Price Performance

The company has a fifty day simple moving average of C$54.52 and a 200 day simple moving average of C$57.46. The stock has a market capitalization of C$9.95 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14.

Magna International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, March 14th were paid a $0.485 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.48. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Friday, February 28th. Magna International’s 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.