Magna International (TSE:MG) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Magna International Inc. (TSE:MG) (NYSE:MGA)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$86.67 and traded as high as C$99.28. Magna International shares last traded at C$97.96, with a volume of 651,908 shares trading hands.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Veritas raised Magna International to a “strong-buy” rating in a report on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Magna International has a consensus rating of “Strong Buy”.

Magna International Stock Performance

The firm has a market cap of C$27.76 billion, a price-to-earnings ratio of 36.93, a price-to-earnings-growth ratio of 0.45 and a beta of 2.11. The stock’s 50 day moving average is C$94.37 and its 200 day moving average is C$86.95. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 55.07.

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

Magna International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Investors of record on Friday, August 28th will be issued a dividend of $0.495 per share. This represents a $1.98 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 14th. Magna International’s dividend payout ratio (DPR) is presently 72.06%.

Insider Transactions at Magna International

In other news, insider Bruce Cluney sold 5,000 shares of Magna International stock in a transaction on 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 owned 40,239 shares of the company’s stock, valued at approximately C$3,831,557.58. This trade represents a 11.05% decrease in their ownership of the stock. Also, insider Eric Jon Wilds Wilds sold 34,672 shares of the business’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 of the company’s stock, valued at approximately C$3,538,810.36. The trade was a 47.22% decrease in their position. Over the last quarter, insiders have sold 110,405 shares of company stock valued at $10,090,534. Company 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.