Magna International (TSE:MG) Reaches New 1-Year Low – Here’s Why

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as C$51.34 and last traded at C$52.17, with a volume of 629791 shares changing hands. The stock had previously closed at C$57.62.

Analysts Set New Price Targets

A number of research firms have weighed in on MG. The Goldman Sachs Group cut Magna International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 11th. Wolfe Research raised Magna International from a “strong sell” rating to a “hold” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada raised shares of Magna International from a “hold” rating to a “moderate buy” rating in a research note on Friday, January 24th.

Magna International Trading Down 7.3 %

The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 62.12. The business has a 50 day moving average price of C$60.72 and a 200-day moving average price of C$58.63. The firm has a market capitalization of C$15.35 billion, a PE ratio of 11.27, a P/E/G ratio of 0.45 and a beta of 1.60.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings data on Friday, November 1st. The company reported C$1.75 EPS for the quarter, missing the consensus estimate of C$2.03 by C($0.28). Magna International had a net margin of 2.29% and a return on equity of 9.03%. During the same quarter last year, the firm posted $1.96 earnings per share. Analysts expect that Magna International Inc. will post 8.8948171 earnings per share for the current year.

Magna International Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 29th were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.56%. Magna International’s payout ratio is 54.01%.

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.