Magna International (TSE:MG) Stock Passes Above 200-Day Moving Average – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$80.32 and traded as high as C$93.50. Magna International shares last traded at C$91.94, with a volume of 1,972,827 shares trading hands.

Analyst Ratings Changes

Several research analysts have commented on the company. Veritas upgraded Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Scotiabank upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 23rd. Four research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Magna International currently has an average rating of “Buy”.

Magna International Trading Down 0.4%

The stock’s 50 day simple moving average is C$87.01 and its 200 day simple moving average is C$80.32. The firm has a market cap of C$25.03 billion, a PE ratio of 38.79, a PEG ratio of 0.45 and a beta of 2.19. The company has a debt-to-equity ratio of 56.24, a quick ratio of 0.83 and a current ratio of 1.22.

Magna International (TSE:MG) (NYSE:MGA) last posted its quarterly earnings data on Friday, May 1st. The company reported C$1.92 earnings per share for the quarter. Magna International had a net margin of 1.59% and a return on equity of 5.43%. The firm had revenue of C$14.43 billion for the quarter. On average, sell-side analysts forecast that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.

Magna International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were issued a $0.495 dividend. The ex-dividend date was Friday, May 15th. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. Magna International’s dividend payout ratio (DPR) is currently 82.28%.

Insider Activity

In related news, insider Tom Rucker Joerg sold 39,210 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of C$92.58, for a total transaction of C$3,630,061.80. Following the completion of the transaction, the insider owned 31,633 shares in the company, valued at C$2,928,583.14. This represents a 55.35% decrease in their ownership of the stock. Also, insider John Hugh Farrell sold 31,523 shares of Magna International stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of C$89.41, for a total transaction of C$2,818,471.43. Following the completion of the sale, the insider owned 50,020 shares in the company, valued at approximately C$4,472,288.20. This trade represents a 38.66% decrease in their position. Insiders have sold a total of 150,405 shares of company stock worth $13,505,134 over the last ninety days. 6.18% of the stock is owned by insiders.

Magna International Company Profile

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.