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

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) crossed 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 trading hands.

Wall Street Analysts Forecast Growth

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

Magna International Stock Performance

The firm has a market cap of C$22.48 billion, a price-to-earnings ratio of 28.34, a PEG ratio of 0.45 and a beta of 1.98. The stock’s fifty day moving average is C$90.67 and its two-hundred day moving average 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 earnings results on Friday, October 30th. The company reported C$2.61 earnings per share (EPS) for the quarter. Magna International had a net margin of 1.97% and a return on equity of 6.97%. The firm had revenue of C$14.32 billion during the quarter. On average, analysts expect that Magna International Inc. will post 8.89 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 27th will be given a dividend of $0.4950 per share. The ex-dividend date is Friday, November 13th. This represents a $1.98 annualized dividend and a dividend yield of 2.3%. Magna International’s payout ratio is currently 64.17%.

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 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.