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

Key Points

• Magna's shares crossed above the 200‑day moving average, trading as high as C$83.01 and last at C$81.02 on volume of about 2.15 million shares (200‑day MA C$75.06).
• Several brokers (Scotiabank, CIBC) recently upgraded MG to Strong Buy, leaving a MarketBeat consensus rating of Buy, but the consensus price target is C$61.00—well below the current share price.
• Fundamentals: Magna reported quarterly EPS of C$1.92 on C$14.43B of revenue and declared a quarterly dividend of C$0.495 (annualized C$1.98, 2.4% yield) with a payout ratio around 82%.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$75.06 and traded as high as C$83.01. Magna International shares last traded at C$81.02, with a volume of 2,151,490 shares trading hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MG. Scotiabank upgraded shares of Magna International from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 23rd. Canadian Imperial Bank of Commerce upgraded shares of Magna International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Three investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Magna International presently has an average rating of "Buy" and a consensus price target of C$61.00.

Magna International Trading Down 2.0%

The stock has a market capitalization of C$22.40 billion, a P/E ratio of 34.19, a price-to-earnings-growth ratio of 0.45 and a beta of 1.91. The business has a 50 day simple moving average of C$80.46 and a 200-day simple moving average of C$75.06. The company has a debt-to-equity ratio of 17.27, a quick ratio of 0.83 and a current ratio of 1.22.

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

Magna International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 29th will be given a $0.495 dividend. The ex-dividend date is Friday, May 15th. This represents a $1.98 annualized dividend and a yield of 2.4%. Magna International's payout ratio is 82.28%.

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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