Magna International (TSE:MG) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

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

Magna International Price Performance

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 company has a market capitalization of C$17.78 billion, a PE ratio of 12.96, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The stock’s 50-day moving average is C$57.12 and its two-hundred day moving average is C$58.85.

Magna International Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.90 annualized dividend and a dividend yield of 3.07%. Magna International’s payout ratio is currently 54.01%.

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.