Magna International (TSE:MG) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

Magna International Inc. (TSE:MG) (NYSE:MGA)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$58.42 and traded as low as C$55.25. Magna International shares last traded at C$55.73, with a volume of 907,502 shares changing hands.

Analyst Upgrades and Downgrades

MG has been the topic of a number of recent analyst reports. Wolfe Research raised shares of Magna International from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 5th. The Goldman Sachs Group lowered shares of Magna International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada upgraded shares of Magna International from a “hold” rating to a “moderate buy” rating in a research report on Friday, January 24th.

Magna International Price Performance

The company has a market cap of C$16.01 billion, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.45 and a beta of 1.60. The company has a quick ratio of 0.83, a current ratio of 1.12 and a debt-to-equity ratio of 62.12. The company has a fifty day simple moving average of C$59.91 and a two-hundred day simple moving average of C$58.42.

Magna International Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 29th were issued a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.90 annualized dividend and a yield of 3.41%. Magna International’s dividend payout ratio (DPR) is currently 54.01%.

Magna International Company Profile

Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier’s product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contracted vehicle assembly.