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

Magna International Inc. (TSE:MG) (NYSE:MGA) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$87.63 and traded as high as C$92.38. Magna International shares last traded at C$91.04, with a volume of 998,690 shares traded.

Wall Street Analysts Forecast Growth

Separately, Veritas raised shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Four analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Strong Buy”.

Magna International Trading Up 0.5%

The stock has a market cap of C$25.29 billion, a PE ratio of 33.63, a PEG ratio of 0.45 and a beta of 2.11. The company has a debt-to-equity ratio of 55.07, a quick ratio of 0.83 and a current ratio of 1.22. The stock has a fifty day moving average price of C$94.32 and a 200 day moving average price of C$87.66.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings data on Friday, July 31st. The company reported C$2.64 earnings per share for the quarter. Magna International had a net margin of 1.77% and a return on equity of 6.15%. The business had revenue of C$15.60 billion for the quarter. Equities analysts expect that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 28th were paid a dividend of $0.495 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.2%. Magna International’s payout ratio is currently 72.06%.

Insider Activity

In related news, insider Tom Rucker Joerg sold 39,210 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total value of C$3,630,061.80. Following the sale, the insider directly owned 31,633 shares of the company’s stock, valued at C$2,928,583.14. This represents a 55.35% decrease in their position. Also, insider Bruce Cluney sold 5,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of C$95.22, for a total transaction of C$476,100.00. Following the completion of the sale, the insider directly owned 40,239 shares of the company’s stock, valued at approximately C$3,831,557.58. The trade was a 11.05% decrease in their position. Corporate insiders own 6.18% of the company’s stock.

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.