Will Magna International Inc. (USA) Go Down Anytime Soon? Option Trader Believe So

 Will Magna International Inc. (USA) Go Down Anytime Soon? Option Trader Believe So

In today’s session Magna International Inc. (USA) (MGA) recorded an unusually high (538) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious MGA decrease. With 538 contracts traded and 12934 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: MGA161216P00037500 closed last at: $0.2 or 0% . About 133,316 shares traded hands. Magna International Inc. (USA) (NYSE:MGA) has declined 4.47% since April 22, 2016 and is downtrending. It has underperformed by 9.88% the S&P500.

Analysts await Magna International Inc. (USA) (NYSE:MGA) to report earnings on February, 24. They expect $1.34 EPS, up 12.61% or $0.15 from last year’s $1.19 per share. MGA’s profit will be $513.71M for 7.69 P/E if the $1.34 EPS becomes a reality. After $1.29 actual EPS reported by Magna International Inc. (USA) for the previous quarter, Wall Street now forecasts 3.88% EPS growth.

Magna International Inc. (USA) (NYSE:MGA) Ratings Coverage

Out of 10 analysts covering Magna International (NYSE:MGA), 6 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 60% are positive. $75 is the highest target while $46 is the lowest. The $60.44 average target is 46.56% above today’s ($41.24) stock price. Magna International has been the topic of 19 analyst reports since August 6, 2015 according to StockzIntelligence Inc. The company was maintained on Friday, August 14 by Deutsche Bank. The firm has “Overweight” rating given on Friday, November 6 by JP Morgan. As per Wednesday, November 9, the company rating was downgraded by Macquarie Research. As per Thursday, January 14, the company rating was maintained by RBC Capital Markets. The rating was downgraded by Zacks on Thursday, August 6 to “Hold”. The firm has “Buy” rating given on Monday, January 25 by Citigroup. The stock has “Overweight” rating given by Morgan Stanley on Thursday, March 17. The stock has “Outperform” rating given by RBC Capital Markets on Friday, November 6. The stock has “Market Perform” rating given by BMO Capital Markets on Tuesday, June 28. As per Wednesday, November 9, the company rating was downgraded by Bank of America.

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 $15.81 billion. The Company’s divisions are North America, Europe, Asia, Rest of World, and Corporate and Other. It has a 8.07 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 important recent Magna International Inc. (USA) (NYSE:MGA) news were published by: Fool.ca which released: “Investors: 3 Huge Reasons to Get Excited About Magna International Inc.” on April 21, 2016, also Fool.ca published article titled: “Why Magna International Inc. Is a Solid Addition to Any Portfolio”, Marketwatch.com published: “/quotes/zigman/3870025/realtime” on June 16, 2009. More interesting news about Magna International Inc. (USA) (NYSE:MGA) was released by: Fool.ca and their article: “Magna International Inc.: A Company That Loves $30 Oil” with publication date: January 13, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment