The stock of Magna International Inc. (USA) (NYSE:MGA) is a huge mover today! About 731,983 shares traded hands. Magna International Inc. (USA) (NYSE:MGA) has declined 5.16% since April 28, 2016 and is downtrending. It has underperformed by 11.08% the S&P500.
The move comes after 7 months positive chart setup for the $16.14 billion company. It was reported on Dec, 1 by Barchart.com. We have $45.63 PT which if reached, will make NYSE:MGA worth $1.29B more.
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 $511.90M for 7.88 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. Magna International has been the topic of 19 analyst reports since August 6, 2015 according to StockzIntelligence Inc. RBC Capital Markets maintained Magna International Inc. (USA) (NYSE:MGA) on Thursday, January 14 with “Outperform” rating. The company was maintained on Friday, August 14 by Deutsche Bank. The stock has “Underperform” rating given by Bank of America on Wednesday, November 9. The company was upgraded on Monday, January 25 by Citigroup. The stock has “Overweight” rating given by JP Morgan on Friday, November 6. The stock of Magna International Inc. (USA) (NYSE:MGA) earned “Hold” rating by Zacks on Thursday, August 6. The firm earned “Neutral” rating on Wednesday, November 9 by Macquarie Research. Morgan Stanley maintained Magna International Inc. (USA) (NYSE:MGA) rating on Thursday, March 17. Morgan Stanley has “Overweight” rating and $60 price target. On Friday, November 6 the stock rating was maintained by RBC Capital Markets with “Outperform”. The stock of Magna International Inc. (USA) (NYSE:MGA) has “Market Perform” rating given on Tuesday, June 28 by BMO Capital Markets.
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.ca which released: “Investors: 3 Huge Reasons to Get Excited About Magna International Inc.” on April 21, 2016, also Fool.ca with their article: “Why Magna International Inc. Is a Solid Addition to Any Portfolio” published on April 26, 2016, Marketwatch.com published: “/quotes/zigman/3870025/realtime” on June 16, 2009. More interesting news about Magna International Inc. (USA) (NYSE:MGA) were released by: Fool.ca and their article: “Magna International Inc. Posts Better-Than-Expected Results” published on August 06, 2016 as well as Fool.ca‘s news article titled: “Should You Buy Magna International Inc. or Linamar Corporation?” with publication date: April 18, 2016.
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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