Magna International Inc. (USA) Stock Price Could Go Up After Today’s Bullish Options Activity

 Magna International Inc. (USA) Stock Price Could Go Up After Today's Bullish Options Activity

In today’s session Magna International Inc. (USA) (MGA) registered an unusually high (765) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the March, 2017 call, expecting serious MGA increase. With 765 contracts traded and 14954 open interest for the Mar, 17 contract, it seems this is a quite bullish bet. The option with symbol: MGA170317C00042500 closed last at: $3.7 or 8.8% up. About 381,484 shares traded hands. Magna International Inc. (USA) (NYSE:MGA) has risen 4.50% since March 4, 2016 and is uptrending. It has underperformed by 3.53% the S&P500.

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 $452.45 million for 8.87 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. $75 is the highest target while $46 is the lowest. The $60.44 average target is 43.09% above today’s ($42.24) stock price. Magna International has been the topic of 17 analyst reports since August 6, 2015 according to StockzIntelligence Inc. JP Morgan upgraded Magna International Inc. (USA) (NYSE:MGA) on Friday, November 6 to “Overweight” rating. Citigroup upgraded Magna International Inc. (USA) (NYSE:MGA) on Monday, January 25 to “Buy” rating. The rating was maintained by RBC Capital Markets on Thursday, January 14 with “Outperform”. Deutsche Bank maintained the stock with “Buy” rating in Friday, August 14 report. The rating was downgraded by Zacks on Thursday, August 6 to “Hold”. The rating was maintained by RBC Capital Markets on Friday, November 6 with “Outperform”. As per Thursday, March 17, the company rating was maintained by Morgan Stanley. BMO Capital Markets downgraded the stock to “Market Perform” rating in Tuesday, June 28 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.”

Magna International Inc. is an automotive supplier. The company has a market cap of $16.06 billion. The Company’s divisions are North America, Europe, Asia, Rest of World, and Corporate and Other. It has a 8.53 P/E ratio. 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.

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.

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: “Magna International Inc. Posts Better-Than-Expected Results” published on August 06, 2016, Fool.ca published: “Investors: 3 Huge Reasons to Get Excited About Magna International Inc.” on April 21, 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.

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