Magna International (TSE:MG) Stock Passes Above 200-Day Moving Average – Should You Sell?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$66.55 and traded as high as C$71.62. Magna International shares last traded at C$71.17, with a volume of 1,991,017 shares.

Analysts Set New Price Targets

MG has been the subject of a number of research analyst reports. BMO Capital Markets upgraded shares of Magna International to a “strong-buy” rating in a research note on Monday, November 3rd. Citigroup raised Magna International to a “hold” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of C$61.00.

Magna International Trading Down 2.2%

The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83. The stock has a market capitalization of C$19.62 billion, a P/E ratio of 19.07, a PEG ratio of 0.45 and a beta of 1.93. The business’s 50 day simple moving average is C$73.02 and its 200-day simple moving average is C$66.63.

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

Magna International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 28th were paid a dividend of $0.485 per share. The ex-dividend date was Friday, November 14th. This represents a $1.94 dividend on an annualized basis and a yield of 2.8%. Magna International’s payout ratio is 52.88%.

About Magna International

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.