Magna International (TSE:MG) Stock Price Crosses Below Two Hundred Day Moving Average - Here's What Happened

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA shares passed 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 Upgrades and Downgrades

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

Magna International Price Performance

The stock has a fifty day moving average of C$49.32 and a 200-day moving average of C$53.11. 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 stock has a market capitalization of C$10.42 billion, a price-to-earnings ratio of 9.67, a P/E/G ratio of 0.45 and a beta of 1.60.

Magna International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 30th were issued a dividend of $0.485 per share. This represents a $1.94 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Friday, May 16th. Magna International's dividend payout ratio is currently 48.07%.

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.