Magna International (USA) (MGA) is Reiterated by RBC Capital Mkts to Outperform, Raises Price Target to $ 55

Magna International (USA) (MGA) was Reiterated by RBC Capital Mkts to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 55 from a previous price target of $52 . RBC Capital Mkts advised their investors in a research report released on Aug 8, 2016.

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.

Magna International (USA) opened for trading at $39.37 and hit $40.18 on the upside on Friday, eventually ending the session at $39.92, with a gain of 4.23% or 1.62 points. The heightened volatility saw the trading volume jump to 23,35,410 shares. Company has a market cap of $15,836 M.

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.

Magna International  (USA)

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