Magna International (TSE:MG) Shares Pass Above 200 Day Moving Average – Here’s What Happened

Magna International Inc. (TSE:MG) (NYSE:MGA)’s stock price crossed 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 changing hands.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on MG shares. Scotiabank upgraded shares of Magna International from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 23rd. Veritas upgraded Magna International to a “strong-buy” rating in a research note on Monday, May 4th. Four equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Magna International has a consensus rating of “Buy”.

Magna International Price Performance

The business’s fifty day moving average is C$87.01 and its 200 day moving average is C$80.32. The company has a market cap of C$25.03 billion, a P/E ratio of 38.79, a PEG ratio of 0.45 and a beta of 2.19. The company has a current ratio of 1.22, a quick ratio of 0.83 and a debt-to-equity ratio of 56.24.

Magna International (TSE:MG) (NYSE:MGA) last released its earnings results on Friday, May 1st. The company reported C$1.92 earnings per share (EPS) for the quarter. Magna International had a return on equity of 5.43% and a net margin of 1.59%.The business had revenue of C$14.43 billion during the quarter. As a group, sell-side analysts anticipate that Magna International Inc. will post 8.8948171 EPS for the current year.

Magna International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 29th were paid 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 presently 82.28%.

Insider Buying and Selling at Magna International

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

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.