Magna International (TSE:MG) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Key Points

• Magna International’s share price moved above its 200-day moving average, trading as high as C$91.86 and last changing hands at C$91.04, suggesting improved technical momentum.
• Analyst sentiment is broadly positive, with recent upgrades from Veritas and Scotiabank helping give the stock a consensus Buy rating.
• The company reported quarterly EPS of C$1.92 and revenue of C$14.43 billion, while also paying a quarterly dividend of $0.495 per share for a 2.2% annualized yield.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA's share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-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.

Wall Street Analyst Weigh In

MG has been the topic of a number of recent research reports. Veritas upgraded Magna International to a "strong-buy" rating in a research note on Monday, May 4th. Scotiabank upgraded Magna International from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 23rd. Four analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Magna International currently has a consensus rating of "Buy".

Magna International Trading Down 0.1%

The stock has a market cap of C$24.78 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 0.45 and a beta of 2.13. 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's 50 day moving average is C$89.76 and its two-hundred day moving average is C$82.49.

Magna International (TSE:MG - Get Free Report) NYSE: MGA last issued its quarterly earnings data on Friday, May 1st. The company reported C$1.92 EPS for the quarter. The firm had revenue of C$14.43 billion during the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%. Equities analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Dividend Announcement

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

Insider Activity at Magna International

In other Magna International news, insider Tom Rucker Joerg sold 39,210 shares of the business's stock in a transaction dated 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 directly owned 31,633 shares in the company, valued at approximately C$2,928,583.14. The trade was a 55.35% decrease in their ownership of the stock. Also, insider John Hugh Farrell sold 31,523 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total value of C$2,818,471.43. Following the sale, the insider directly owned 50,020 shares of the company's stock, valued at approximately C$4,472,288.20. This represents a 38.66% decrease in their ownership of the stock. Over the last three months, insiders sold 150,405 shares of company stock worth $13,505,134. 6.18% of the stock is owned by company insiders.

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 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.

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