Magna International (TSE:MG) Stock Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Magna International Inc. (TSE:MG) (NYSE:MGA) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$79.40 and traded as high as C$92.05. Magna International shares last traded at C$91.66, with a volume of 1,594,135 shares trading hands.

Analysts Set New Price Targets

MG has been the subject of several recent research reports. Canadian Imperial Bank of Commerce upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Veritas upgraded shares of Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Finally, Scotiabank upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Four analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of C$61.00.

Magna International Stock Performance

The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. The company’s 50-day simple moving average is C$85.17 and its 200-day simple moving average is C$79.40. The stock has a market capitalization of C$24.95 billion, a price-to-earnings ratio of 38.68, a PEG ratio of 0.45 and a beta of 2.19.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings results on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. The firm had revenue of C$14.43 billion during the quarter. On average, analysts expect that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were given a dividend of $0.495 per share. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. Magna International’s dividend payout ratio is 82.28%.

Insider Activity

In other news, insider Eric Jon Wilds Wilds sold 34,672 shares of the stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of C$91.31, for a total transaction of C$3,165,900.32. Following the completion of the sale, the insider directly owned 38,756 shares in the company, valued at C$3,538,810.36. This represents a 47.22% decrease in their ownership of the stock. Also, insider Tom Rucker Joerg sold 39,210 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the sale, the insider owned 31,633 shares of the company’s stock, valued at approximately C$2,928,583.14. This trade represents a 55.35% decrease in their ownership of the stock. In the last three months, insiders have sold 150,405 shares of company stock valued at $13,505,134. 6.18% of the stock is owned by corporate insiders.

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.