Magna International (TSE:MG) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Magna International's stock price has crossed above its 200-day moving average, trading at C$62.50 with a high of C$64.51 during the session.
• The company recently declared a quarterly dividend of $0.485 per share, indicating an annualized payout of $1.94 and a yield of 3.1%.
• Analysts have set a new average price target for Magna International at C$61.00, with the stock presently holding a consensus rating of "Reduce."

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA's stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$55.08 and traded as high as C$64.51. Magna International shares last traded at C$62.50, with a volume of 1,025,454 shares traded.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MG shares. Cfra Research upgraded Magna International to a "hold" rating in a research note on Monday, August 4th. Bank of America lifted their target price on Magna International from C$58.00 to C$61.00 in a research report on Monday, June 16th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of C$61.00.

Magna International Stock Performance

The company's 50-day simple moving average is C$63.01 and its 200 day simple moving average is C$55.08. The stock has a market cap of C$17.61 billion, a P/E ratio of 14.67, a PEG ratio of 0.45 and a beta of 1.96. The company has a current ratio of 1.14, a quick ratio of 0.83 and a debt-to-equity ratio of 61.81.

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 29th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, August 15th. Magna International's dividend payout ratio (DPR) is 45.07%.

Magna International Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.

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