Magna International (NYSE:MGA) Stock Price Crosses Above 200 Day Moving Average – Here’s What Happened

Magna International Inc. (NYSE:MGA) (TSE:MG)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $57.74 and traded as high as $66.87. Magna International shares last traded at $66.6560, with a volume of 728,510 shares.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MGA shares. Barclays reduced their price objective on shares of Magna International from $67.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Veritas raised shares of Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Magna International in a research note on Friday, May 29th. Citigroup lifted their target price on Magna International from $58.00 to $75.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Raymond James Financial lifted their target price on Magna International from $50.00 to $75.00 and gave the stock a “market perform” rating in a report on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.19.

Magna International Price Performance

The company has a market capitalization of $18.15 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 0.89 and a beta of 1.43. The company’s 50-day moving average price is $62.00 and its two-hundred day moving average price is $57.74. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.22 and a quick ratio of 0.88.

Magna International (NYSE:MGA) (TSE:MG) last issued its quarterly earnings data on Friday, May 1st. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.37. The company had revenue of $10.13 billion for the quarter, compared to analyst estimates of $10.14 billion. Magna International had a net margin of 1.60% and a return on equity of 14.01%. The company’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.78 earnings per share. Magna International has set its FY 2026 guidance at 6.250-7.250 EPS. As a group, sell-side analysts expect that Magna International Inc. will post 6.87 EPS for the current year.

Magna International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.495 per share. The ex-dividend date was Friday, May 15th. This represents a $1.98 dividend on an annualized basis and a dividend yield of 3.0%. Magna International’s dividend payout ratio (DPR) is 82.85%.

Hedge Funds Weigh In On Magna International

Large investors have recently made changes to their positions in the company. Hillsdale Investment Management Inc. bought a new position in shares of Magna International in the 3rd quarter valued at $33,593,000. Achmea Investment Management B.V. bought a new position in shares of Magna International in the 3rd quarter valued at $8,606,000. Geode Capital Management LLC increased its stake in shares of Magna International by 6.8% in the 4th quarter. Geode Capital Management LLC now owns 2,426,843 shares of the company’s stock valued at $128,774,000 after purchasing an additional 154,710 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Magna International by 7.8% in the 4th quarter. Russell Investments Group Ltd. now owns 2,090,887 shares of the company’s stock valued at $111,549,000 after purchasing an additional 151,819 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Magna International by 196.9% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 139,659 shares of the company’s stock valued at $6,620,000 after purchasing an additional 92,613 shares during the last quarter. Institutional investors own 67.49% of the company’s stock.

About Magna International

Magna International Inc is a leading global automotive supplier specializing in the design, engineering, and manufacturing of vehicle systems, assemblies, modules, and components. Headquartered in Aurora, Ontario, the company partners with major original equipment manufacturers (OEMs) to develop technologies and solutions that enhance vehicle performance, safety, comfort, and fuel efficiency. Magna’s broad portfolio encompasses body exteriors and structures, powertrain systems, seating and interiors, roof systems, mirror systems, and advanced driver assistance systems (ADAS).

The company operates more than 350 manufacturing and assembly facilities and over 100 innovation centers across 27 countries, serving customers in North America, Europe, Asia, South America, and Africa.