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

Shares of Magna International Inc. (TSE:MG) (NYSE:MGA) 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 changing hands.

Analyst Ratings Changes

A number of research firms have recently commented on MG. Wolfe Research raised shares of Magna International to a “strong sell” rating in a research report on Thursday, September 5th. Royal Bank of Canada lowered shares of Magna International from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 13th.

Magna International Stock Down 0.2 %

The company has a debt-to-equity ratio of 62.12, a quick ratio of 0.83 and a current ratio of 1.12. The company has a market capitalization of C$17.78 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 0.45 and a beta of 1.60. The stock’s fifty day simple moving average is C$57.12 and its two-hundred day simple moving average is C$58.85.

Magna International Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 29th will be issued a $0.475 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.07%. Magna International’s dividend payout ratio is 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.