Magna International (TSE:MG) Stock Price Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Magna International's share price recently surpassed its two hundred day moving average, trading at C$58.36, indicating potential upward momentum.
• Brokerage firms have revised their price targets for Magna, with Bank of America increasing it from C$58.00 to C$61.00, while Royal Bank of Canada downgraded its rating from "moderate buy" to "hold".
• The company declared a quarterly dividend of $0.485, resulting in a dividend yield of 3.32% and a payout ratio of 48.07%.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$52.36 and traded as high as C$58.61. Magna International shares last traded at C$58.36, with a volume of 529,031 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Royal Bank Of Canada downgraded shares of Magna International from a "moderate buy" rating to a "hold" rating in a report on Friday, April 11th. Bank of America increased their price target on shares of Magna International from C$58.00 to C$61.00 in a report on Monday, June 16th. Finally, Veritas raised shares of Magna International to a "hold" rating in a report on Thursday, April 24th.

Magna International Price Performance

The stock has a market capitalization of C$11.62 billion, a PE ratio of 10.79, a P/E/G ratio of 0.45 and a beta of 1.60. The stock's fifty day moving average is C$53.36 and its 200-day moving average is C$52.30. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 30th were issued a $0.485 dividend. This represents a $1.94 annualized dividend and a yield of 3.38%. The ex-dividend date was Friday, May 16th. Magna International's 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.