Royal Bank of Canada Lowers Magna International (TSE:MG) to Hold

Royal Bank of Canada downgraded shares of Magna International (TSE:MG) (NYSE:MGA) from a moderate buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

Separately, BNP Paribas upgraded shares of Magna International from a hold rating to a strong-buy rating in a report on Monday, July 1st.

Magna International Stock Up 3.5 %

Magna International stock opened at C$56.04 on Tuesday. The company has a debt-to-equity ratio of 66.45, a current ratio of 1.09 and a quick ratio of 0.83. The company’s 50-day moving average is C$58.24 and its 200-day moving average is C$65.75. The firm has a market capitalization of C$16.10 billion, a PE ratio of 11.68, a P/E/G ratio of 0.58 and a beta of 1.70. Magna International has a fifty-two week low of C$52.25 and a fifty-two week high of C$81.65.

Magna International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Friday, August 16th. This is an increase from Magna International’s previous quarterly dividend of $0.64. Magna International’s payout ratio is 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.