The stock of Magna International Inc. (USA) (NYSE:MGA) is a huge mover today! About 718,877 shares traded hands. Magna International Inc. (USA) (NYSE:MGA) has risen 8.17% since March 1, 2016 and is uptrending. It has underperformed by 1.07% the S&P500.
The move comes after 6 months positive chart setup for the $16.60 billion company. It was reported on Oct, 4 by Barchart.com. We have $60.47 PT which if reached, will make NYSE:MGA worth $6.81 billion more.
Analysts await Magna International Inc. (USA) (NYSE:MGA) to report earnings on November, 3. They expect $1.19 earnings per share, up 5.31% or $0.06 from last year’s $1.13 per share. MGA’s profit will be $460.57 million for 9.01 P/E if the $1.19 EPS becomes a reality. After $1.41 actual earnings per share reported by Magna International Inc. (USA) for the previous quarter, Wall Street now forecasts -15.60% negative EPS growth.
Magna International Inc. (USA) (NYSE:MGA) Ratings Coverage
Out of 8 analysts covering Magna International (NYSE:MGA), 6 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 75% are positive. Magna International has been the topic of 17 analyst reports since August 6, 2015 according to StockzIntelligence Inc. Deutsche Bank maintained the shares of MGA in a report on Friday, August 14 with “Buy” rating. The firm has “Overweight” rating by Morgan Stanley given on Thursday, March 17. The stock has “Buy” rating given by Citigroup on Monday, January 25. As per Friday, November 6, the company rating was upgraded by JP Morgan. The firm has “Outperform” rating by RBC Capital Markets given on Thursday, January 14. BMO Capital Markets downgraded the stock to “Market Perform” rating in Tuesday, June 28 report. The stock of Magna International Inc. (USA) (NYSE:MGA) earned “Outperform” rating by RBC Capital Markets on Friday, November 6. Zacks downgraded the stock to “Hold” rating in Thursday, August 6 report.
According to Zacks Investment Research, “Magna International, Inc. is an independent supplier of original equipment components, assemblies, modules and systems and related tooling for cars and light trucks. The Company designs, develops and manufactures a diversified range of these products, primarily for North American and European original equipment manufacturers.”
More notable recent Magna International Inc. (USA) (NYSE:MGA) news were published by: Fool.com which released: “Magna International Inc. is Ready to Accelerate its Growth” on October 05, 2015, also Fool.ca with their article: “Investors: 3 Huge Reasons to Get Excited About Magna International Inc.” published on April 21, 2016, Fool.ca published: “Magna International Inc. Posts Better-Than-Expected Results” on August 06, 2016. More interesting news about Magna International Inc. (USA) (NYSE:MGA) were released by: Fool.ca and their article: “Why Magna International Inc. and Pembina Pipeline Corp. Are up Over 2% Today” published on August 05, 2016 as well as Marketwatch.com‘s news article titled: “/quotes/zigman/3870025/realtime” with publication date: June 16, 2009.
MGA Company Profile
Magna International Inc. (Magna), incorporated on November 16, 1961, is an automotive supplier. The Company’s divisions are North America, Europe, Asia, Rest of World, and Corporate and Other. The Company’s product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure, and roof systems and modules, as well as vehicle engineering and contract manufacturing. The Firm has over 290 manufacturing activities and over 80 product development, engineering and sales centers in approximately 30 countries.
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