Magna International (NYSE:MGA) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG's stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $37.29 and traded as high as $38.68. Magna International shares last traded at $38.67, with a volume of 1,338,878 shares.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MGA shares. UBS Group lowered their target price on Magna International from $41.00 to $34.00 and set a "neutral" rating on the stock in a research report on Thursday, April 10th. Royal Bank Of Canada lowered their price objective on Magna International from $32.00 to $31.00 and set a "sector perform" rating on the stock in a research report on Tuesday, May 6th. CIBC boosted their price objective on Magna International from $33.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Morgan Stanley lowered their price target on shares of Magna International from $40.00 to $38.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Finally, BMO Capital Markets dropped their price target on shares of Magna International from $47.00 to $41.00 and set an "outperform" rating for the company in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $41.44.

Magna International Stock Up 3.6%

The business has a 50-day moving average of $36.12 and a 200 day moving average of $37.29. The company has a market capitalization of $11.27 billion, a PE ratio of 10.00, a P/E/G ratio of 0.67 and a beta of 1.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.06 and a quick ratio of 0.74.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last released its quarterly earnings data on Friday, May 2nd. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.90 by ($0.12). The firm had revenue of $9.68 billion during the quarter, compared to the consensus estimate of $9.66 billion. Magna International had a return on equity of 11.96% and a net margin of 2.73%. The business's revenue was down 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.08 EPS. Equities research analysts predict that Magna International Inc. will post 5.87 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.485 per share. The ex-dividend date was Friday, May 16th. This represents a $1.94 annualized dividend and a yield of 4.85%. Magna International's dividend payout ratio (DPR) is currently 48.50%.

Hedge Funds Weigh In On Magna International

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Versant Capital Management Inc bought a new position in shares of Magna International in the 1st quarter valued at about $27,000. Cromwell Holdings LLC raised its position in Magna International by 131.6% during the first quarter. Cromwell Holdings LLC now owns 820 shares of the company's stock valued at $28,000 after purchasing an additional 466 shares during the period. LRI Investments LLC lifted its stake in shares of Magna International by 2,126.5% in the 4th quarter. LRI Investments LLC now owns 757 shares of the company's stock valued at $32,000 after purchasing an additional 723 shares during the last quarter. Millstone Evans Group LLC purchased a new position in shares of Magna International in the 4th quarter worth approximately $33,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Magna International by 43.1% in the 4th quarter. Lindbrook Capital LLC now owns 1,036 shares of the company's stock worth $43,000 after purchasing an additional 312 shares during the period. 67.49% of the stock is owned by hedge funds and other institutional investors.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.