Magna International Inc. (MGA) Announces Quarterly Dividend of $0.38
Magna International (NYSE:MGA) declared a quarterly dividend on Friday, August 8th, Stock Ratings News reports. Shareholders of record on Friday, August 29th will be given a dividend of 0.38 per share on Friday, September 12th. This represents a $1.52 dividend on an annualized basis and a yield of 1.45%.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. reiterated a “hold” rating on shares of Magna International in a research note on Tuesday, July 22nd. They now have a $116.00 price target on the stock, up previously from $107.00. On a related note, analysts at Scotiabank reiterated a “sector outperform” rating on shares of Magna International in a research note on Thursday, June 26th. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Magna International in a research note on Tuesday, May 13th. They now have a $107.00 price target on the stock, up previously from $99.00. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $107.64.
Shares of Magna International (NYSE:MGA) opened at 105.16 on Friday. Magna International has a 52-week low of $75.45 and a 52-week high of $112.20. The stock has a 50-day moving average of $109.0 and a 200-day moving average of $99.19. The company has a market cap of $22.908 billion and a P/E ratio of 15.40.
Magna International (NYSE:MGA) last issued its quarterly earnings data on Friday, August 8th. The company reported $2.32 earnings per share for the quarter, beating the analysts’ consensus estimate of $2.22 by $0.10. The company had revenue of $8.46 billion for the quarter, compared to the consensus estimate of $9.36 billion. On average, analysts predict that Magna International will post $8.32 earnings per share for the current fiscal year.
Magna International Inc (NYSE:MGA) is a diversified global automotive supplier.
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