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

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

A number of other research analysts have also recently commented on MG. Wolfe Research raised Magna International from a “strong sell” rating to a “hold” rating in a research report on Thursday, December 5th. Royal Bank of Canada cut Magna International from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 13th.

Magna International Price Performance

Magna International has a 1 year low of C$51.79 and a 1 year high of C$79.98. 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 company’s 50 day moving average price is C$60.16 and its two-hundred day moving average price is C$58.60. The stock has a market cap of C$18.12 billion, a PE ratio of 13.48, a PEG ratio of 0.45 and a beta of 1.60.

Magna International Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 29th were paid 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 ?. 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.