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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 $84.35, marking a +0.62% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.18%.
Prior to today's trading, shares of the automotive supply company had lost 10.19% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 1.38% and the S&P 500's gain of 2.44% in that time.
MGA will be looking to display strength as it nears its next earnings release, which is expected to be August 6, 2021. On that day, MGA is projected to report earnings of $1.44 per share, which would represent year-over-year growth of 184.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.37 billion, up 118.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.48 per share and revenue of $40.76 billion. These totals would mark changes of +89.37% and +24.84%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MGA. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 1.19% lower within the past month. MGA is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MGA has a Forward P/E ratio of 11.21 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.
Investors should also note that MGA has a PEG ratio of 0.58 right now. 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. MGA's industry had an average PEG ratio of 0.88 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 191, which puts it in the bottom 25% 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.
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 $84.35, marking a +0.62% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.18%.
Prior to today's trading, shares of the automotive supply company had lost 10.19% over the past month. This has lagged the Auto-Tires-Trucks sector's loss of 1.38% and the S&P 500's gain of 2.44% in that time.
MGA will be looking to display strength as it nears its next earnings release, which is expected to be August 6, 2021. On that day, MGA is projected to report earnings of $1.44 per share, which would represent year-over-year growth of 184.21%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $9.37 billion, up 118.15% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $7.48 per share and revenue of $40.76 billion. These totals would mark changes of +89.37% and +24.84%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for MGA. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 1.19% lower within the past month. MGA is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that MGA has a Forward P/E ratio of 11.21 right now. This valuation marks a discount compared to its industry's average Forward P/E of 13.
Investors should also note that MGA has a PEG ratio of 0.58 right now. 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. MGA's industry had an average PEG ratio of 0.88 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 191, which puts it in the bottom 25% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.