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

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$67.12 and traded as high as C$73.85. Magna International shares last traded at C$73.80, with a volume of 847,510 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BMO Capital Markets upgraded Magna International to a “strong-buy” rating in a report on Monday, November 3rd. Citigroup upgraded shares of Magna International to a “hold” rating in a report on Friday, October 10th. One investment 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.com, Magna International presently has an average rating of “Hold” and a consensus target price of C$61.00.

Magna International Stock Performance

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 stock has a fifty day moving average of C$73.34 and a 200-day moving average of C$67.12. The stock has a market cap of C$20.80 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 0.45 and a beta of 1.80.

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

Magna International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 28th were paid a $0.485 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a dividend yield of 2.6%. Magna International’s payout ratio is 52.88%.

Magna International Company Profile

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.