Magna International (TSE:MG) Stock Price Crosses Above 200 Day Moving Average of $0.00

Magna International Inc. (TSE:MG) (NYSE:MGA) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$0.00 and traded as high as C$119.89. Magna International shares last traded at C$119.40, with a volume of 1,081,909 shares changing hands.

Several brokerages have issued reports on MG. TD Securities upped their price target on shares of Magna International to C$137.50 and gave the company a “buy” rating in a report on Friday, April 23rd. Raymond James upped their price objective on shares of Magna International to C$113.00 and gave the company a “market perform” rating in a research note on Friday, May 7th.

The company has a debt-to-equity ratio of 49.20, a quick ratio of 1.02 and a current ratio of 1.39. The stock has a market capitalization of C$35.82 billion and a price-to-earnings ratio of 26.55. The firm’s 50 day moving average is C$117.46.

Magna International (TSE:MG) (NYSE:MGA) last issued its quarterly earnings results on Thursday, May 6th. The company reported C$2.36 EPS for the quarter, topping the consensus estimate of C$1.97 by C$0.39. The company had revenue of C$12.89 billion for the quarter, compared to analyst estimates of C$11.89 billion. As a group, research analysts forecast that Magna International Inc. will post 7.2080625 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 4th. Investors of record on Friday, May 21st were given a dividend of $0.528 per share. This represents a $2.11 annualized dividend and a yield of 1.78%. The ex-dividend date of this dividend was Thursday, May 20th. Magna International’s dividend payout ratio (DPR) is 36.42%.

About Magna International (TSE:MG)

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

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