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Magna (MGA) Stock Sinks As Market Gains: What You Should Know
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Magna (MGA - Free Report) closed the most recent trading day at $89.50, moving -0.23% from the previous trading session. This change lagged the S&P 500's daily gain of 0.77%.
Heading into today, shares of the automotive supply company had lost 0.68% over the past month, lagging the Auto-Tires-Trucks sector's gain of 9.59% and the S&P 500's gain of 7.34% in that time.
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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.42 per share and revenue of $40.8 billion, which would represent changes of +87.85% and +24.97%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MGA. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. MGA currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, MGA is holding a Forward P/E ratio of 11.98. For comparison, its industry has an average Forward P/E of 14.13, which means MGA is trading at a discount to the group.
It is also worth noting that MGA currently has a PEG ratio of 1.7. 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 was holding an average PEG ratio of 1.05 at yesterday's closing price.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Magna (MGA) Stock Sinks As Market Gains: What You Should Know
Magna (MGA - Free Report) closed the most recent trading day at $89.50, moving -0.23% from the previous trading session. This change lagged the S&P 500's daily gain of 0.77%.
Heading into today, shares of the automotive supply company had lost 0.68% over the past month, lagging the Auto-Tires-Trucks sector's gain of 9.59% and the S&P 500's gain of 7.34% in that time.
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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.42 per share and revenue of $40.8 billion, which would represent changes of +87.85% and +24.97%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MGA. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. MGA currently has a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, MGA is holding a Forward P/E ratio of 11.98. For comparison, its industry has an average Forward P/E of 14.13, which means MGA is trading at a discount to the group.
It is also worth noting that MGA currently has a PEG ratio of 1.7. 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 was holding an average PEG ratio of 1.05 at yesterday's closing price.
The Automotive - Original Equipment industry is part of the Auto-Tires-Trucks sector. This industry currently has a Zacks Industry Rank of 159, which puts it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.