Magna International (TSE:MG) Stock Crosses Below 200 Day Moving Average - What's Next?

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA shares crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$53.28 and traded as low as C$50.55. Magna International shares last traded at C$51.39, with a volume of 1,487,432 shares changing hands.

Analyst Ratings Changes

Several research firms recently commented on MG. Bank of America raised their price target on shares of Magna International from C$58.00 to C$61.00 in a research note on Monday, June 16th. Veritas raised shares of Magna International to a "hold" rating in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada downgraded shares of Magna International from a "moderate buy" rating to a "hold" rating in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of C$61.00.

Magna International Trading Up 0.9%

The firm has a market capitalization of C$10.65 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The company has a quick ratio of 0.83, a current ratio of 1.14 and a debt-to-equity ratio of 61.81. The company's 50-day simple moving average is C$49.47 and its 200 day simple moving average is C$53.02.

Magna International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 30th were issued a dividend of $0.485 per share. The ex-dividend date was Friday, May 16th. This represents a $1.94 annualized dividend and a dividend yield of 3.68%. Magna International's dividend payout ratio (DPR) is currently 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.