Magna International (TSE:MG) Price Target Raised to C$61.00 at Bank of America

Magna International (TSE:MG) (NYSE:MGA) had its price target boosted by Bank of America from C$58.00 to C$61.00 in a report issued on Monday,BayStreet.CA reports.

A number of other brokerages also recently issued reports on MG. Veritas upgraded shares of Magna International to a “hold” rating in a research note on Thursday, April 24th. Royal Bank of Canada lowered shares of Magna International from a “moderate buy” rating to a “hold” rating in a research report on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of C$61.00.

Magna International Price Performance

Magna International stock opened at C$51.40 on Monday. The stock’s fifty day moving average price is C$48.52 and its two-hundred day moving average price is C$53.69. Magna International has a one year low of C$43.25 and a one year high of C$66.42. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83. The firm has a market cap of C$10.40 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 30th were given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date was Friday, May 16th. Magna International’s dividend payout ratio is presently 48.07%.

Magna International Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.