Magna International (TSE:MG) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 trading hands.

Analyst Upgrades and Downgrades

Several research firms recently commented on MG. Veritas raised Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Scotiabank raised Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Four investment analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Magna International Stock Performance

The company has a quick ratio of 0.83, a current ratio of 1.22 and a debt-to-equity ratio of 56.24. The firm has a market capitalization of C$24.78 billion, a P/E ratio of 38.41, a price-to-earnings-growth ratio of 0.45 and a beta of 2.13. The company’s 50 day moving average is C$89.76 and its 200-day moving average is C$82.49.

Magna International (TSE:MG) (NYSE:MGA) last announced its quarterly earnings data on Friday, May 1st. The company reported C$1.92 earnings per share for the quarter. The firm 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%. As a group, equities analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Dividend Announcement

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

Insider Transactions at Magna International

In other Magna International news, insider Eric Jon Wilds Wilds sold 34,672 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of C$91.31, for a total value of C$3,165,900.32. Following the completion of the sale, the insider owned 38,756 shares of the company’s stock, valued at approximately C$3,538,810.36. This trade represents a 47.22% decrease in their ownership of the stock. Also, insider Tom Rucker Joerg sold 39,210 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of C$92.58, for a total value of C$3,630,061.80. Following the sale, the insider owned 31,633 shares of the company’s stock, valued at approximately C$2,928,583.14. This represents a 55.35% decrease in their position. Over the last ninety days, insiders sold 150,405 shares of company stock worth $13,505,134. 6.18% of the stock is currently owned by insiders.

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.