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

Key Points

• Magna International's share price surpassed its 200-day moving average of C$55.57, currently trading at C$62.71 with significant trading volume of 887,027 shares.
• Analysts from Cfra Research and Citigroup have upgraded the stock to a "hold" rating, but overall, it has an average rating of "Reduce" and a target price of C$61.00.
• The company recently announced a quarterly dividend of $0.485, representing an annual yield of 3.1% with a payout ratio of 45.07%.

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$55.57 and traded as high as C$63.05. Magna International shares last traded at C$62.71, with a volume of 887,027 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Cfra Research raised Magna International to a "hold" rating in a research report on Monday, August 4th. Citigroup upgraded Magna International to a "hold" rating in a research note on Friday, October 10th. Five equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Magna International has an average rating of "Reduce" and an average target price of C$61.00.

Magna International Price Performance

The company has a 50-day simple moving average of C$63.56 and a 200-day simple moving average of C$55.57. The stock has a market cap of C$17.67 billion, a PE ratio of 14.72, a PEG ratio of 0.45 and a beta of 1.96. The company has a debt-to-equity ratio of 61.81, a current ratio of 1.14 and a quick ratio of 0.83.

Magna International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 29th were paid a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Friday, August 15th. Magna International's dividend payout ratio (DPR) is presently 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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