Magna International (TSE:MG) Hits New 1-Year Low at $62.38

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as C$62.38 and last traded at C$62.44, with a volume of 70817 shares changing hands. The stock had previously closed at C$63.12.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada lowered their target price on shares of Magna International from C$61.00 to C$60.00 and set a “sector perform” rating on the stock in a report on Monday, February 12th.

Magna International Stock Performance

The firm has a market cap of C$17.85 billion, a price-to-earnings ratio of 13.15, a PEG ratio of 0.58 and a beta of 1.70. The company has a quick ratio of 0.83, a current ratio of 1.09 and a debt-to-equity ratio of 66.45. The company has a 50 day moving average of C$68.37 and a 200 day moving average of C$72.68.

Magna International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.642 dividend. This is a positive change from Magna International’s previous quarterly dividend of $0.64. The ex-dividend date is Thursday, May 16th. This represents a $2.57 annualized dividend and a dividend yield of 4.13%. Magna International’s dividend payout ratio (DPR) is presently 53.75%.

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.