Magna International (USA) (MGA) : Jones Collombin Investment Counsel Inc reduced its stake in Magna International (USA) by 7.92% during the most recent quarter end. The investment management company now holds a total of 295,723 shares of Magna International (USA) which is valued at $12,432,195 after selling 25,445 shares in Magna International (USA) , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.Magna International (USA) makes up approximately 3.92% of Jones Collombin Investment Counsel Inc’s portfolio.
Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in MGA in the latest quarter, The investment management firm added 6,687 additional shares and now holds a total of 12,717 shares of Magna International (USA) which is valued at $535,767. Magna International (USA) makes up approx 0.02% of Msi Financial Services Inc’s portfolio.Carl Domino Inc reduced its stake in MGA by selling 23,490 shares or 69.35% in the most recent quarter. The Hedge Fund company now holds 10,380 shares of MGA which is valued at $444,887. Magna International (USA) makes up approx 0.42% of Carl Domino Inc’s portfolio.Creative Planning reduced its stake in MGA by selling 164 shares or 4.04% in the most recent quarter. The Hedge Fund company now holds 3,898 shares of MGA which is valued at $167,068.Advisory Services Network reduced its stake in MGA by selling 70 shares or 1.71% in the most recent quarter. The Hedge Fund company now holds 4,020 shares of MGA which is valued at $169,765. Magna International (USA) makes up approx 0.03% of Advisory Services Network’s portfolio.
Magna International (USA) closed down -0.09 points or -0.21% at $42.04 with 11,29,270 shares getting traded on Friday. Post opening the session at $42.36, the shares hit an intraday low of $41.975 and an intraday high of $42.84 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Magna International (USA) reported $1.41 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $1.34. The company had revenue of $9443.00 million for the quarter, compared to analysts expectations of $9204.19 million. The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.
Many Wall Street Analysts have commented on Magna International (USA). Company shares were Reiterated by RBC Capital Mkts on Aug 8, 2016 to “Outperform”, Firm has raised the Price Target to $ 55 from a previous price target of $52 .
Magna International Inc. (Magna) is an automotive supplier with approximately 313 manufacturing operations and over 84 product development engineering and sales centers in approximately 28 countries. Its product capabilities include producing body chassis interior exterior seating powertrain electronic vision closure and roof systems and modules as well as vehicle engineering and contract manufacturing. Its customers include General Motors Fiat-Chrysler Ford BMW Daimler and Volkswagen. Its offers programs which include Ford Transit; MINI Countryman; Ford F-Series and F-Series Super Duty; QOROS 3; Ford Mustang; BMW X6; Mercedes-Benz M-Class; BMW X4 and Porsche Panamera. The Company operates in North America Europe and Asia.