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

Magna International Inc. (TSE:MG) (NYSE:MGA)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$58.56 and traded as high as C$58.61. Magna International shares last traded at C$58.35, with a volume of 191,002 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wolfe Research raised shares of Magna International from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 5th. The Goldman Sachs Group lowered Magna International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, December 11th.

Magna International Trading Down 0.1 %

The firm has a market capitalization of C$16.77 billion, a PE ratio of 12.31, 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 1.12 and a debt-to-equity ratio of 62.12. The company’s 50-day simple moving average is C$61.19 and its 200 day simple moving average is C$58.56.

Magna International Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were paid a $0.475 dividend. The ex-dividend date was Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 3.26%. Magna International’s dividend payout ratio (DPR) is 54.01%.

Magna International Company Profile

Magna International Inc designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. It operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.