Magna International (TSE:MG) Shares Cross Above 200 Day Moving Average – Should You Sell?

Magna International Inc. (TSE:MG) (NYSE:MGA) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$76.82 and traded as high as C$83.81. Magna International shares last traded at C$83.61, with a volume of 4,735,207 shares trading hands.

Analysts Set New Price Targets

A number of analysts have weighed in on MG shares. Canadian Imperial Bank of Commerce raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 18th. Veritas raised shares of Magna International to a “strong-buy” rating in a report on Monday, May 4th. Finally, Scotiabank raised shares of Magna International from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 23rd. Four research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Magna International has a consensus rating of “Buy” and an average target price of C$61.00.

Magna International Stock Up 2.5%

The company has a market capitalization of C$24.65 billion, a price-to-earnings ratio of 37.63, a PEG ratio of 0.45 and a beta of 2.05. The stock’s fifty day simple moving average is C$80.59 and its two-hundred day simple moving average is C$77.06. The company has a debt-to-equity ratio of 56.24, a current ratio of 1.22 and a quick ratio of 0.83.

Magna International (TSE:MG) (NYSE:MGA) last issued its earnings results on Friday, May 1st. The company reported C$1.92 earnings per share for the quarter. The company had revenue of C$14.43 billion for the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. On average, sell-side analysts predict that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 29th. Investors of record on Friday, May 29th will be issued a $0.495 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Friday, May 15th. Magna International’s dividend payout ratio (DPR) is 82.28%.

Insider Buying and Selling at Magna International

In related news, insider Uwe Paul-Ernst Geissinger sold 19,732 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$86.46, for a total value of C$1,706,028.72. Following the sale, the insider owned 30,470 shares of the company’s stock, valued at C$2,634,436.20. This trade represents a 39.31% decrease in their position. Over the last 90 days, insiders have sold 45,000 shares of company stock valued at $3,890,700. 6.18% of the stock is owned by company insiders.

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.