Magna International (TSE:MG) Shares Cross Above 50 Day Moving Average – What’s Next?

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of C$91.06 and traded as high as C$92.49. Magna International shares last traded at C$91.57, with a volume of 940,090 shares changing hands.

Analyst Upgrades and Downgrades

MG has been the topic of several analyst reports. Canadian Imperial Bank of Commerce lowered shares of Magna International from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 21st. BMO Capital Markets downgraded Magna International from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 17th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Magna International presently has an average rating of “Buy”.

Magna International Stock Up 3.0%

The firm’s fifty day moving average price is C$91.06 and its 200-day moving average price is C$87.16. The company has a debt-to-equity ratio of 55.54, a current ratio of 1.14 and a quick ratio of 0.83. The firm has a market capitalization of C$23.78 billion, a P/E ratio of 29.83, a PEG ratio of 0.45 and a beta of 2.02.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings results on Friday, October 30th. The company reported C$2.61 earnings per share (EPS) for the quarter. Magna International had a return on equity of 6.97% and a net margin of 1.97%. The company had revenue of C$14.32 billion for the quarter. As a group, equities research analysts forecast that Magna International Inc. will post 8.89 earnings per share for the current year.

Magna International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 27th will be issued a $0.4950 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.98 annualized dividend and a dividend yield of 2.2%. Magna International’s dividend payout ratio is 64.17%.

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 Asia. With operations in 28 countries, we combine global scale with trusted reliability and proven execution. Backed by nearly seven decades of experience, we bring together deep manufacturing expertise with innovative vehicle systems to deliver performance, safety, and quality.