Magna International (TSE:MG) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Magna International Inc. (TSE:MG) (NYSE:MGA) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$71.24 and traded as high as C$79.79. Magna International shares last traded at C$78.49, with a volume of 1,309,852 shares.

Analysts Set New Price Targets

Separately, Canadian Imperial Bank of Commerce upgraded Magna International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Magna International presently has a consensus rating of “Moderate Buy” and an average target price of C$61.00.

Magna International Trading Down 0.1%

The business’s 50 day moving average price is C$79.19 and its two-hundred day moving average price is C$71.24. The company has a current ratio of 1.25, a quick ratio of 0.83 and a debt-to-equity ratio of 66.74. The company has a market capitalization of C$21.88 billion, a price-to-earnings ratio of 26.79, a P/E/G ratio of 0.45 and a beta of 2.05.

Magna International (TSE:MG) (NYSE:MGA) last released its quarterly earnings data on Friday, February 13th. The company reported C$2.99 earnings per share (EPS) for the quarter. The business had revenue of C$14.27 billion during the quarter. Magna International had a net margin of 1.97% and a return on equity of 6.73%. On average, equities analysts predict that Magna International Inc. will post 8.8948171 earnings per share for the current fiscal year.

About Magna International

Magna is one of the world’s largest automotive suppliers and a trusted partner to automakers in the industry’s most critical markets-North America, Europe, and China. With a global team and footprint spanning 28 countries, we bring unmatched scale, trusted reliability, and proven execution. Backed by nearly seven decades of experience, we combine deep manufacturing expertise with innovative vehicle systems to deliver performance, safety and quality.