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Magna (MGA) Gains As Market Dips: What You Should Know
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In the latest trading session, Magna (MGA - Free Report) closed at $99.18, marking a +0.08% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.09%.
Prior to today's trading, shares of the automotive supply company had gained 11.66% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 6.61% and the S&P 500's gain of 5.45% in that time.
Wall Street will be looking for positivity from MGA as it approaches its next earnings report date. This is expected to be May 6, 2021. The company is expected to report EPS of $1.59, up 84.88% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.47 billion, up 9.36% from the year-ago period.
MGA's full-year Zacks Consensus Estimates are calling for earnings of $7.27 per share and revenue of $40.5 billion. These results would represent year-over-year changes of +84.05% and +24.06%, respectively.
Any recent changes to analyst estimates for MGA should also be noted by investors. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.96% lower. MGA currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MGA has a Forward P/E ratio of 13.63 right now. This represents a discount compared to its industry's average Forward P/E of 15.39.
Investors should also note that MGA has a PEG ratio of 1.8 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Automotive - Original Equipment stocks are, on average, holding a PEG ratio of 1.13 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 210, which puts it in the bottom 18% 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) Gains As Market Dips: What You Should Know
In the latest trading session, Magna (MGA - Free Report) closed at $99.18, marking a +0.08% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.09%.
Prior to today's trading, shares of the automotive supply company had gained 11.66% over the past month. This has outpaced the Auto-Tires-Trucks sector's gain of 6.61% and the S&P 500's gain of 5.45% in that time.
Wall Street will be looking for positivity from MGA as it approaches its next earnings report date. This is expected to be May 6, 2021. The company is expected to report EPS of $1.59, up 84.88% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.47 billion, up 9.36% from the year-ago period.
MGA's full-year Zacks Consensus Estimates are calling for earnings of $7.27 per share and revenue of $40.5 billion. These results would represent year-over-year changes of +84.05% and +24.06%, respectively.
Any recent changes to analyst estimates for MGA should also be noted by investors. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.96% lower. MGA currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MGA has a Forward P/E ratio of 13.63 right now. This represents a discount compared to its industry's average Forward P/E of 15.39.
Investors should also note that MGA has a PEG ratio of 1.8 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Automotive - Original Equipment stocks are, on average, holding a PEG ratio of 1.13 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 210, which puts it in the bottom 18% 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.