Magna International (TSE:MG) Stock Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Magna International's stock price recently crossed above its 200-day moving average, reaching C$60.77, signaling potential bullish momentum for investors.
• Research analysts have mostly issued a "hold" rating for the stock, with a slight increase in the price target from C$58.00 to C$61.00, indicating cautious optimism.
• The company announced a quarterly dividend of $0.485 per share, which translates to a dividend yield of 3.2%, appealing to income-focused investors.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$52.30 and traded as high as C$60.77. Magna International shares last traded at C$60.73, with a volume of 1,158,228 shares.

Analyst Ratings Changes

MG has been the subject of a number of research reports. Cfra Research upgraded shares of Magna International to a "hold" rating in a research report on Monday, August 4th. Bank of America boosted their target price on shares of Magna International from C$58.00 to C$61.00 in a research report on Monday, June 16th. Finally, Veritas upgraded shares of Magna International to a "hold" rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of C$61.00.

Magna International Price Performance

The stock's fifty day moving average price is C$55.86 and its two-hundred day moving average price is C$52.35. The firm has a market capitalization of C$12.38 billion, a price-to-earnings ratio of 11.49, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. 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 business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 29th will be given a $0.485 dividend. This represents a $1.94 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 15th. Magna International's dividend payout ratio (DPR) is 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.