Magna International (TSE:MG) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$59.94 and traded as high as C$68.81. Magna International shares last traded at C$68.39, with a volume of 1,299,581 shares.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MG. BMO Capital Markets raised Magna International to a “strong-buy” rating in a report on Monday, November 3rd. Citigroup raised shares of Magna International to a “hold” rating in a research note on Friday, October 10th. Finally, Cfra Research raised shares of Magna International to a “hold” rating in a report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of C$61.00.

Magna International Stock Down 0.1%

The stock has a 50 day moving average price of C$66.05 and a 200-day moving average price of C$60.00. The stock has a market capitalization of C$19.27 billion, a P/E ratio of 18.74, a PEG ratio of 0.45 and a beta of 1.88. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83.

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

Magna International Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, November 14th. This represents a $1.94 annualized dividend and a dividend yield of 2.8%. Magna International’s dividend payout ratio (DPR) is presently 52.88%.

About Magna International

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.