Magna International (TSE:MG) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Magna International Inc. (TSE:MG) (NYSE:MGA) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$75.06 and traded as high as C$83.01. Magna International shares last traded at C$81.02, with a volume of 2,151,490 shares traded.

Wall Street Analyst Weigh In

Several analysts recently commented on MG shares. Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Canadian Imperial Bank of Commerce upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Three research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of C$61.00.

Magna International Stock Down 2.0%

The company has a market capitalization of C$22.40 billion, a price-to-earnings ratio of 34.19, a price-to-earnings-growth ratio of 0.45 and a beta of 1.91. The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 17.27. The business has a 50-day moving average price of C$80.46 and a 200-day moving average price of C$75.06.

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 for the quarter. The business had revenue of C$14.43 billion during the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%. As a group, equities analysts anticipate that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be issued a $0.495 dividend. This represents a $1.98 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, May 15th. Magna International’s dividend payout ratio (DPR) is presently 82.28%.

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.