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

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$71.24 and traded as high as C$79.79. Magna International shares last traded at C$78.49, with a volume of 1,309,852 shares changing hands.

Analyst Ratings Changes

Separately, Canadian Imperial Bank of Commerce upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Magna International presently has a consensus rating of “Moderate Buy” and a consensus target price of C$61.00.

Magna International Stock Down 2.1%

The stock has a fifty day moving average price of C$79.29 and a two-hundred day moving average price of C$71.29. The company has a market cap of C$21.45 billion, a P/E ratio of 26.26, a price-to-earnings-growth ratio of 0.45 and a beta of 2.05. The company has a debt-to-equity ratio of 66.74, a current ratio of 1.25 and a quick ratio of 0.83.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings data on Friday, February 13th. The company reported C$2.99 earnings per share for the quarter. The business had revenue of C$14.27 billion for the quarter. Magna International had a return on equity of 6.73% and a net margin of 1.97%. On average, research analysts expect that Magna International Inc. will post 8.8948171 EPS for the current year.

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.