Magna International Inc. (MG) to Issue Quarterly Dividend of $0.64 on May 31st

Magna International Inc. (TSE:MG) (NYSE:MGA) declared a quarterly dividend on Friday, May 3rd, Zacks reports. Stockholders of record on Friday, May 17th will be paid a dividend of 0.642 per share on Friday, May 31st. This represents a $2.57 annualized dividend and a dividend yield of 4.02%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Magna International’s previous quarterly dividend of $0.64.

Magna International Stock Down 3.5 %

Shares of MG stock opened at C$63.89 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.83 and a debt-to-equity ratio of 58.83. Magna International has a 12 month low of C$62.90 and a 12 month high of C$87.00. The stock has a market cap of C$18.35 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.58 and a beta of 1.68. The company has a 50 day simple moving average of C$70.74 and a two-hundred day simple moving average of C$73.08.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, February 9th. The company reported C$1.81 earnings per share for the quarter, missing the consensus estimate of C$1.99 by C($0.18). The company had revenue of C$14.23 billion for the quarter, compared to analysts’ expectations of C$14.30 billion. Magna International had a net margin of 2.83% and a return on equity of 10.89%. On average, research analysts expect that Magna International will post 8.2060185 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Royal Bank of Canada dropped their price objective on Magna International from C$61.00 to C$60.00 and set a “sector perform” rating for the company in a research note on Monday, February 12th.

Insider Activity

In related news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of C$53.98, for a total value of C$1,128,476.61. In related news, Director Seetarama Swamy Kotagiri sold 20,906 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of C$53.98, for a total value of C$1,128,476.61. Also, Senior Officer Boris Shulkin sold 4,646 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of C$55.05, for a total transaction of C$255,762.30. Insiders sold 34,844 shares of company stock valued at $1,887,403 in the last ninety days. Insiders own 6.10% of the company’s stock.

About Magna International

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.