Wolfe Research upgraded shares of Magna International (TSE:MG – Free Report) (NYSE:MGA) to a strong sell rating in a research report released on Thursday morning, Zacks.com reports.
Other equities analysts have also recently issued reports about the stock. Royal Bank of Canada cut shares of Magna International from a moderate buy rating to a hold rating in a research report on Tuesday, August 13th. BNP Paribas upgraded Magna International from a hold rating to a strong-buy rating in a research report on Monday, July 1st.
Read Our Latest Stock Analysis on Magna International
Magna International Price Performance
Magna International (TSE:MG – Get Free Report) (NYSE:MGA) last posted its quarterly earnings data on Friday, August 2nd. The company reported C$1.85 EPS for the quarter, missing analysts’ consensus estimates of C$1.99 by C($0.14). Magna International had a net margin of 2.29% and a return on equity of 9.03%. The business had revenue of C$14.99 billion during the quarter, compared to analysts’ expectations of C$15.22 billion. As a group, equities analysts expect that Magna International will post 7.5019868 EPS for the current fiscal year.
Magna International Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.65 per share. This is a boost from Magna International’s previous quarterly dividend of $0.64. This represents a $2.60 annualized dividend and a dividend yield of 4.75%. The ex-dividend date of this dividend was Friday, August 16th. Magna International’s payout ratio is currently 56.16%.
Magna International Company Profile
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.
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