Magna International (TSE:MG) Shares Cross Above 200-Day Moving Average - Time to Sell?

Magna International Inc. (TSE:MG - Get Free Report) NYSE: MGA shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$58.93 and traded as high as C$62.17. Magna International shares last traded at C$61.86, with a volume of 685,820 shares.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on MG. Royal Bank of Canada downgraded shares of Magna International from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 13th. Wolfe Research raised shares of Magna International to a "strong sell" rating in a report on Thursday, September 5th.

Magna International Stock Up 0.2 %

The company has a current ratio of 1.12, a quick ratio of 0.83 and a debt-to-equity ratio of 62.12. The stock has a market capitalization of C$17.81 billion, a PE ratio of 13.21, a P/E/G ratio of 0.45 and a beta of 1.60. The stock's fifty day simple moving average is C$57.00 and its 200-day simple moving average is C$58.89.

Magna International Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 29th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.06%. The ex-dividend date is Friday, November 15th. Magna International's dividend payout ratio (DPR) is currently 54.01%.

About Magna International

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.