Magna International (TSE:MG) Shares Cross Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Magna International's share price has recently crossed above its 200-day moving average of C$52.45, reaching a high of C$61.87 during trading.
• The company declared a quarterly dividend of $0.485, translating to an annual dividend of $1.94 with a yield of 3.2%.
• Multiple analysts have raised Magna's rating to "hold," while the average price target is set at C$61.00, indicating a cautiously optimistic outlook for the stock.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$52.45 and traded as high as C$61.87. Magna International shares last traded at C$61.48, with a volume of 553,189 shares.

Wall Street Analyst Weigh In

MG has been the subject of several recent analyst reports. Cfra Research raised shares of Magna International to a "hold" rating in a report on Monday, August 4th. Bank of America upped their target price on shares of Magna International from C$58.00 to C$61.00 in a report on Monday, June 16th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of C$61.00.

Magna International Price Performance

The stock's 50-day simple moving average is C$57.37 and its 200 day simple moving average is C$52.67. The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The company has a market cap of C$12.98 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 0.45 and a beta of 1.60.

Magna International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 29th will be given a $0.485 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.94 dividend on an annualized basis and a yield of 3.0%. Magna International's dividend payout ratio is presently 48.07%.

About Magna International

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.