Magna International (TSE:MG) Shares Break Below Two Hundred Day Moving Average – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price passed below its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of C$87.53 and traded as low as C$86.70. Magna International shares last traded at C$87.01, with a volume of 4,238,160 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MG. BMO Capital Markets downgraded Magna International from a “strong-buy” rating to a “hold” rating and lowered their target price for the company from C$105.17 to C$97.90 in a research note on Thursday, September 17th. Canadian Imperial Bank of Commerce cut Magna International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of C$97.90.

Magna International Trading Down 1.2%

The firm has a market cap of C$22.48 billion, a price-to-earnings ratio of 28.34, a price-to-earnings-growth ratio of 0.45 and a beta of 1.98. The business’s 50 day moving average price is C$90.67 and its 200-day moving average price is C$87.53. The company has a debt-to-equity ratio of 55.54, a quick ratio of 0.83 and a current ratio of 1.14.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings results on Friday, October 30th. The company reported C$2.61 EPS for the quarter. Magna International had a return on equity of 6.97% and a net margin of 1.97%. The business had revenue of C$14.32 billion during the quarter. Equities analysts expect that Magna International Inc. will post 8.89 EPS for the current year.

Magna International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 27th will be issued a $0.4950 dividend. This represents a $1.98 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Friday, November 13th. Magna International’s payout ratio is 64.17%.

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 Asia. With operations in 28 countries, we combine global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, we bring together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.