Magna International (TSE:MG) Stock Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Magna International's stock surpassed its 200-day moving average, trading as high as C$64.03, with a last price of C$63.24 and a notable trading volume of over 1 million shares.
• Analysts have set a consensus target price of C$61.00 for Magna International, with ratings indicating a general “Reduce” consensus; four analysts have a Hold rating while one suggests a Sell.
• The company announced a quarterly dividend of $0.485 per share with a payout ratio of 48.07%, contributing to an annualized dividend yield of 3.1%.

Shares of Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$52.79 and traded as high as C$64.03. Magna International shares last traded at C$63.24, with a volume of 1,085,308 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MG shares. Bank of America raised their price target on shares of Magna International from C$58.00 to C$61.00 in a research report on Monday, June 16th. Cfra Research raised shares of Magna International to a "hold" rating in a research report on Monday, August 4th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of C$61.00.

Magna International Price Performance

The stock has a 50 day moving average of C$58.10 and a two-hundred day moving average of C$52.82. The stock has a market cap of C$17.76 billion, a PE ratio of 14.80, a PEG ratio of 0.45 and a beta of 1.99. The company has a debt-to-equity ratio of 61.81, a quick ratio of 0.83 and a current ratio of 1.14.

Magna International Announces Dividend

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