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

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$81.83 and traded as high as C$91.99. Magna International shares last traded at C$88.81, with a volume of 1,399,028 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MG. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Veritas upgraded Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Four investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy”.

Magna International Trading Down 4.8%

The company has a market cap of C$24.18 billion, a PE ratio of 37.47, a price-to-earnings-growth ratio of 0.45 and a beta of 2.19. The company’s 50 day simple moving average is C$89.02 and its two-hundred day simple moving average is C$81.83. The company has a debt-to-equity ratio of 56.24, a current ratio of 1.22 and a quick ratio of 0.83.

Magna International (TSE:MG) (NYSE:MGA) last released 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 business had revenue of C$14.43 billion for the quarter. As a group, sell-side analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 29th. Investors of record on Friday, May 29th were issued a $0.495 dividend. This represents a $1.98 annualized dividend and a yield of 2.2%. The ex-dividend date was Friday, May 15th. Magna International’s dividend payout ratio (DPR) is 82.28%.

Insider Transactions at Magna International

In other news, insider Eric Jon Wilds Wilds sold 34,672 shares of the firm’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total transaction of C$3,165,900.32. Following the completion of the transaction, the insider directly owned 38,756 shares in the company, valued at C$3,538,810.36. This trade represents a 47.22% decrease in their ownership of the stock. Also, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of Magna International stock in a transaction on Monday, May 11th. The shares were sold at an average price of C$86.46, for a total value of C$1,706,028.72. Following the completion of the sale, the insider directly owned 30,470 shares of the company’s stock, valued at C$2,634,436.20. The trade was a 39.31% decrease in their ownership of the stock. Insiders sold 150,405 shares of company stock worth $13,505,134 in the last ninety days. 6.18% of the stock is owned by company 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.