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Magna (MGA) Gains As Market Dips: What You Should Know
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Magna (MGA - Free Report) closed the most recent trading day at $91.81, moving +0.69% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.06%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq gained 0.76%.
Coming into today, shares of the automotive supply company had gained 20.85% in the past month. In that same time, the Auto-Tires-Trucks sector lost 6.89%, while the S&P 500 gained 0.17%.
MGA will be looking to display strength as it nears its next earnings release. On that day, MGA is projected to report earnings of $1.63 per share, which would represent year-over-year growth of 89.53%. Our most recent consensus estimate is calling for quarterly revenue of $9.75 billion, up 12.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.42 per share and revenue of $40.8 billion. These totals would mark changes of +87.85% and +24.97%, respectively, from last year.
Any recent changes to analyst estimates for MGA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 23.07% higher. MGA is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, MGA is holding a Forward P/E ratio of 12.3. Its industry sports an average Forward P/E of 16.12, so we one might conclude that MGA is trading at a discount comparatively.
We can also see that MGA currently has a PEG ratio of 1.75. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Original Equipment industry currently had an average PEG ratio of 1.54 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MGA in the coming trading sessions, be sure to utilize Zacks.com.
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Magna (MGA) Gains As Market Dips: What You Should Know
Magna (MGA - Free Report) closed the most recent trading day at $91.81, moving +0.69% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.06%. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq gained 0.76%.
Coming into today, shares of the automotive supply company had gained 20.85% in the past month. In that same time, the Auto-Tires-Trucks sector lost 6.89%, while the S&P 500 gained 0.17%.
MGA will be looking to display strength as it nears its next earnings release. On that day, MGA is projected to report earnings of $1.63 per share, which would represent year-over-year growth of 89.53%. Our most recent consensus estimate is calling for quarterly revenue of $9.75 billion, up 12.57% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.42 per share and revenue of $40.8 billion. These totals would mark changes of +87.85% and +24.97%, respectively, from last year.
Any recent changes to analyst estimates for MGA should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 23.07% higher. MGA is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, MGA is holding a Forward P/E ratio of 12.3. Its industry sports an average Forward P/E of 16.12, so we one might conclude that MGA is trading at a discount comparatively.
We can also see that MGA currently has a PEG ratio of 1.75. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Automotive - Original Equipment industry currently had an average PEG ratio of 1.54 as of yesterday's close.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 87, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MGA in the coming trading sessions, be sure to utilize Zacks.com.