Magna International (TSE:MG) Stock Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• Technical breakout: Magna passed above its 200-day moving average (C$73.67), trading as high as C$84.02 and last at C$83.03 on volume ~2.52M, with the 50-day MA at C$80.53.
• Mixed analyst signals and valuation: CIBC upgraded the stock to a "strong-buy" (one of two Strong Buy vs three Hold; consensus "Moderate Buy"), yet the average analyst price target is C$61.00—well below the current price; the company trades at a PE of 28.34 and reported Q EPS of C$2.99 on C$14.27B revenue.

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$73.67 and traded as high as C$84.02. Magna International shares last traded at C$83.03, with a volume of 2,524,565 shares changing hands.

Wall Street Analyst Weigh In

Separately, Canadian Imperial Bank of Commerce upgraded shares of Magna International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$61.00.

Magna International Price Performance

The company has a market cap of C$22.95 billion, a PE ratio of 28.34, a price-to-earnings-growth ratio of 0.45 and a beta of 1.91. The business's 50 day moving average price is C$80.53 and its 200-day moving average price is C$73.67. The company has a quick ratio of 0.83, a current ratio of 1.25 and a debt-to-equity ratio of 66.74.

Magna International (TSE:MG - Get Free Report) NYSE: MGA last posted its quarterly earnings data on Friday, February 13th. The company reported C$2.99 earnings per share (EPS) for the quarter. The company had revenue of C$14.27 billion for the quarter. Magna International had a net margin of 1.97% and a return on equity of 6.73%. As a group, analysts forecast that Magna International Inc. will post 8.8948171 earnings per share for the current year.

About Magna International

Magna is one of the world's largest automotive suppliers and a trusted partner to automakers in the industry's most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.

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