Magna International (TSE:MG) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Magna International (TSE:MG) (NYSE:MGA) from a strong sell rating to a hold rating in a report issued on Thursday,Zacks.com reports.

Separately, Royal Bank of Canada downgraded shares of Magna International from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 13th.

Magna International Stock Performance

TSE:MG opened at C$64.10 on Thursday. Magna International has a 1 year low of C$51.79 and a 1 year high of C$79.98. The firm’s fifty day simple moving average is C$59.50 and its 200 day simple moving average is C$58.55. 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 firm has a market capitalization of C$18.42 billion, a PE ratio of 13.52, a PEG ratio of 0.45 and a beta of 1.60.

Magna International Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 29th were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, November 15th. Magna International’s payout ratio is 54.01%.

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.