Magna International (NYSE:MGA) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Magna International Inc. (NYSE:MGA - Get Free Report) TSE: MG shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $42.34 and traded as high as $42.57. Magna International shares last traded at $41.78, with a volume of 872,748 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MGA. Scotiabank upped their target price on shares of Magna International from $50.00 to $52.00 and gave the company a "sector perform" rating in a research report on Monday, November 4th. Wells Fargo & Company lowered their target price on shares of Magna International from $46.00 to $44.00 and set an "equal weight" rating for the company in a report on Monday, December 16th. TD Securities cut their price target on Magna International from $53.00 to $52.00 and set a "buy" rating on the stock in a research note on Monday, September 30th. Wolfe Research raised Magna International from an "underperform" rating to a "peer perform" rating in a research note on Thursday, December 5th. Finally, StockNews.com upgraded Magna International from a "hold" rating to a "buy" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $49.65.

Magna International Trading Down 0.1 %

The company has a market cap of $11.92 billion, a P/E ratio of 11.17, a PEG ratio of 0.81 and a beta of 1.62. The company has a quick ratio of 0.77, a current ratio of 1.14 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average price of $43.40 and a 200-day moving average price of $42.33.

Magna International (NYSE:MGA - Get Free Report) TSE: MG last issued its quarterly earnings data on Friday, November 1st. The company reported $1.28 EPS for the quarter, missing analysts' consensus estimates of $1.48 by ($0.20). Magna International had a net margin of 2.52% and a return on equity of 11.88%. The firm had revenue of $10.28 billion during the quarter, compared to analyst estimates of $10.34 billion. During the same period in the prior year, the company earned $1.46 earnings per share. The business's quarterly revenue was down 3.8% compared to the same quarter last year. On average, analysts forecast that Magna International Inc. will post 5.22 earnings per share for the current year.

Magna International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 4.55%. The ex-dividend date of this dividend was Friday, November 15th. Magna International's dividend payout ratio (DPR) is 50.80%.

Institutional Investors Weigh In On Magna International

A number of large investors have recently added to or reduced their stakes in MGA. Kennebec Savings Bank bought a new stake in shares of Magna International during the 3rd quarter valued at $32,000. Grove Bank & Trust raised its stake in Magna International by 70.4% in the third quarter. Grove Bank & Trust now owns 830 shares of the company's stock valued at $34,000 after purchasing an additional 343 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its position in Magna International by 84.4% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,121 shares of the company's stock worth $46,000 after purchasing an additional 513 shares during the period. Tobam increased its holdings in Magna International by 94.3% in the 3rd quarter. Tobam now owns 4,373 shares of the company's stock valued at $179,000 after buying an additional 2,122 shares during the period. Finally, Arkadios Wealth Advisors bought a new position in Magna International in the 3rd quarter valued at about $216,000. Institutional investors and hedge funds own 67.49% of the company's stock.

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.