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Magna (MGA) Stock Sinks As Market Gains: What You Should Know
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Magna (MGA - Free Report) closed at $92.80 in the latest trading session, marking a -1.66% move from the prior day. This change lagged the S&P 500's daily gain of 0.23%.
Coming into today, shares of the automotive supply company had lost 6.18% in the past month. In that same time, the Auto-Tires-Trucks sector gained 9.5%, while the S&P 500 gained 2.34%.
Investors will be hoping for strength from MGA as it approaches its next earnings release. The company is expected to report EPS of $1.51, up 188.3% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.57 billion, up 122.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.57 per share and revenue of $40.96 billion, which would represent changes of +91.65% and +25.47%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.75% higher. MGA is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, MGA currently has a Forward P/E ratio of 12.47. This valuation marks a discount compared to its industry's average Forward P/E of 12.88.
Meanwhile, MGA's PEG ratio is currently 0.64. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Original Equipment was holding an average PEG ratio of 0.92 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 120, which puts it in the top 48% 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.
To follow MGA in the coming trading sessions, be sure to utilize Zacks.com.
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Magna (MGA) Stock Sinks As Market Gains: What You Should Know
Magna (MGA - Free Report) closed at $92.80 in the latest trading session, marking a -1.66% move from the prior day. This change lagged the S&P 500's daily gain of 0.23%.
Coming into today, shares of the automotive supply company had lost 6.18% in the past month. In that same time, the Auto-Tires-Trucks sector gained 9.5%, while the S&P 500 gained 2.34%.
Investors will be hoping for strength from MGA as it approaches its next earnings release. The company is expected to report EPS of $1.51, up 188.3% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.57 billion, up 122.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $7.57 per share and revenue of $40.96 billion, which would represent changes of +91.65% and +25.47%, respectively, from the prior year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.75% higher. MGA is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, MGA currently has a Forward P/E ratio of 12.47. This valuation marks a discount compared to its industry's average Forward P/E of 12.88.
Meanwhile, MGA's PEG ratio is currently 0.64. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Automotive - Original Equipment was holding an average PEG ratio of 0.92 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 120, which puts it in the top 48% 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.
To follow MGA in the coming trading sessions, be sure to utilize Zacks.com.