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

Magna International Inc. (TSE:MG) (NYSE:MGA)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$82.49 and traded as high as C$91.86. Magna International shares last traded at C$91.04, with a volume of 674,405 shares changing hands.

Wall Street Analysts Forecast Growth

MG has been the subject of several recent analyst reports. Scotiabank raised Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Veritas raised Magna International to a “strong-buy” rating in a research report on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Magna International currently has a consensus rating of “Buy”.

Magna International Stock Performance

The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24. The firm has a market cap of C$24.78 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 0.45 and a beta of 2.13. The stock has a fifty day moving average price of C$89.76 and a 200 day moving average price of C$82.49.

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

Magna International Dividend Announcement

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

Insider Activity

In other Magna International news, insider Eric Jon Wilds Wilds sold 34,672 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of C$91.31, for a total transaction of C$3,165,900.32. Following the completion of the sale, the insider directly owned 38,756 shares in the company, valued at C$3,538,810.36. This represents a 47.22% decrease in their ownership of the stock. Also, insider Uwe Paul-Ernst Geissinger sold 22,434 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of C$86.46, for a total transaction of C$1,939,643.64. 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 42.41% decrease in their ownership of the stock. Insiders sold 150,405 shares of company stock worth $13,505,134 in the last 90 days. 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.