Magna International (NYSE:MGA) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Magna International Inc. (NYSE:MGA) (TSE:MG)’s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $59.24 and traded as high as $65.70. Magna International shares last traded at $63.16, with a volume of 789,954 shares.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MGA. Barclays lowered their price objective on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating for the company in a research report on Monday, March 30th. Royal Bank Of Canada restated a “sector perform” rating and issued a $57.00 target price on shares of Magna International in a research note on Wednesday, April 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Magna International in a report on Friday, May 29th. Bank of America initiated coverage on shares of Magna International in a research note on Wednesday, March 4th. They set a “buy” rating on the stock. Finally, Scotiabank upgraded shares of Magna International from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the stock from $69.00 to $72.00 in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.47.

Magna International Stock Down 3.8%

The firm has a fifty day simple moving average of $64.05 and a 200-day simple moving average of $59.24. The company has a market capitalization of $17.06 billion, a PE ratio of 26.43, a P/E/G ratio of 0.89 and a beta of 1.43. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.88 and a current ratio of 1.22.

Magna International (NYSE:MGA) (TSE:MG) last released its earnings results on Friday, May 1st. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.01 by $0.37. Magna International had a return on equity of 14.01% and a net margin of 1.60%.The company had revenue of $10.13 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same period in the prior year, the business posted $0.78 EPS. The business’s revenue was up 3.1% on a year-over-year basis. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. Equities research analysts anticipate that Magna International Inc. will post 6.87 EPS for the current fiscal year.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were paid a dividend of $0.495 per share. This represents a $1.98 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, May 15th. Magna International’s dividend payout ratio is 82.85%.

Institutional Investors Weigh In On Magna International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. ARGA Investment Management LP raised its stake in shares of Magna International by 1.1% in the 4th quarter. ARGA Investment Management LP now owns 4,193,129 shares of the company’s stock valued at $223,512,000 after purchasing an additional 44,996 shares in the last quarter. Geode Capital Management LLC grew its stake in Magna International by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock worth $128,774,000 after purchasing an additional 154,710 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Magna International by 7.8% in the fourth quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock worth $111,549,000 after purchasing an additional 151,819 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in Magna International by 14.8% in the first quarter. Hillsdale Investment Management Inc. now owns 832,575 shares of the company’s stock valued at $46,486,000 after buying an additional 107,150 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Magna International by 2.8% in the first quarter. Bank of New York Mellon Corp now owns 487,633 shares of the company’s stock valued at $27,215,000 after buying an additional 13,439 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

Magna International Company Profile

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.