Magna International (TSE:MG) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Magna International Inc. (TSE:MG) (NYSE:MGA)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$66.55 and traded as high as C$71.62. Magna International shares last traded at C$71.17, with a volume of 1,991,017 shares traded.

Analyst Ratings Changes

Several analysts have commented on the stock. BMO Capital Markets upgraded shares of Magna International to a “strong-buy” rating in a research note on Monday, November 3rd. Citigroup upgraded shares of Magna International to a “hold” rating in a research report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of C$61.00.

Magna International Price Performance

The firm has a market cap of C$20.06 billion, a P/E ratio of 19.50, a PEG ratio of 0.45 and a beta of 1.93. 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 stock’s 50-day simple moving average is C$72.99 and its two-hundred day simple moving average is C$66.55.

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

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 28th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Friday, November 14th. Magna International’s dividend payout ratio is presently 52.88%.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.