Magna International (TSE:MG) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$61.03 and traded as high as C$70.64. Magna International shares last traded at C$70.56, with a volume of 1,450,557 shares trading hands.

Wall Street Analyst Weigh In

MG has been the topic of several recent analyst reports. Citigroup upgraded Magna International to a “hold” rating in a research note on Friday, October 10th. BMO Capital Markets raised Magna International to a “strong-buy” rating in a report on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of C$61.00.

Magna International Stock Up 3.3%

The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The company has a market cap of C$19.88 billion, a PE ratio of 19.33, a PEG ratio of 0.45 and a beta of 1.86. The company’s fifty day moving average is C$66.67 and its 200-day moving average is C$61.03.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings results on Friday, October 31st. The company reported C$1.33 earnings per share for the quarter. The firm had revenue of C$14.57 billion for the quarter. Magna International had a return on equity of 9.11% and a net margin of 2.52%. On average, analysts predict that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 28th were given a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, November 14th. Magna International’s dividend payout ratio (DPR) is presently 52.88%.

About Magna International

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.