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Magna (MGA) Gains But Lags Market: What You Should Know
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Magna (MGA - Free Report) closed at $86.71 in the latest trading session, marking a +0.24% move from the prior day. The stock lagged the S&P 500's daily gain of 0.52%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.12%.
Coming into today, shares of the automotive supply company had lost 0.37% in the past month. In that same time, the Auto-Tires-Trucks sector lost 9.58%, while the S&P 500 lost 0.76%.
Wall Street will be looking for positivity from MGA as it approaches its next earnings report date. In that report, analysts expect MGA to post earnings of $1.63 per share. This would mark year-over-year growth of 89.53%. Meanwhile, our latest consensus estimate is calling for revenue of $9.75 billion, up 12.57% from the prior-year quarter.
MGA's full-year Zacks Consensus Estimates are calling for earnings of $7.42 per share and revenue of $40.8 billion. These results would represent year-over-year changes of +87.85% and +24.97%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.49% higher within the past month. MGA is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note MGA's current valuation metrics, including its Forward P/E ratio of 11.67. This valuation marks a discount compared to its industry's average Forward P/E of 15.09.
Meanwhile, MGA's PEG ratio is currently 1.66. 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. Automotive - Original Equipment stocks are, on average, holding a PEG ratio of 1.36 based on yesterday's closing prices.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% 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 But Lags Market: What You Should Know
Magna (MGA - Free Report) closed at $86.71 in the latest trading session, marking a +0.24% move from the prior day. The stock lagged the S&P 500's daily gain of 0.52%. At the same time, the Dow added 0.62%, and the tech-heavy Nasdaq gained 0.12%.
Coming into today, shares of the automotive supply company had lost 0.37% in the past month. In that same time, the Auto-Tires-Trucks sector lost 9.58%, while the S&P 500 lost 0.76%.
Wall Street will be looking for positivity from MGA as it approaches its next earnings report date. In that report, analysts expect MGA to post earnings of $1.63 per share. This would mark year-over-year growth of 89.53%. Meanwhile, our latest consensus estimate is calling for revenue of $9.75 billion, up 12.57% from the prior-year quarter.
MGA's full-year Zacks Consensus Estimates are calling for earnings of $7.42 per share and revenue of $40.8 billion. These results would represent year-over-year changes of +87.85% and +24.97%, respectively.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 3.49% higher within the past month. MGA is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note MGA's current valuation metrics, including its Forward P/E ratio of 11.67. This valuation marks a discount compared to its industry's average Forward P/E of 15.09.
Meanwhile, MGA's PEG ratio is currently 1.66. 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. Automotive - Original Equipment stocks are, on average, holding a PEG ratio of 1.36 based on yesterday's closing prices.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% 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.