Magna International (TSE:MG) Rating Lowered to “Strong Sell” at The Goldman Sachs Group

The Goldman Sachs Group cut shares of Magna International (TSE:MG) (NYSE:MGA) from a hold rating to a strong sell rating in a research report report published on Wednesday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Wolfe Research upgraded Magna International from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 5th. Royal Bank of Canada lowered Magna International from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

Magna International Price Performance

The company has a market cap of C$18.12 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 0.45 and a beta of 1.60. The company has a debt-to-equity ratio of 62.12, a current ratio of 1.12 and a quick ratio of 0.83. The business has a fifty day simple moving average of C$60.16 and a 200-day simple moving average of C$58.60. Magna International has a one year low of C$51.79 and a one year high of C$79.98.

Magna International Cuts Dividend

The company also recently disclosed 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 was Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of ∞. Magna International’s dividend payout ratio (DPR) is presently 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.