Revenue Update on Magna International (USA)(NYSE:MGA)

Magna International (USA)(NYSE:MGA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 5, 2016. Company reported revenue of $9.44B. Analysts estimated a revenue of $9.24B. Earnings per share were $1.41. Analysts had estimated an EPS of $1.34.

In a different note, On Jun 28, 2016, BMO Capital said it Downgrades its rating on Magna International (USA). The shares have been rated ‘Market Perform’ by the firm.

Magna International (USA) (MGA) made into the market gainers list on Wednesdays trading session with the shares advancing 0.07% or 0.03 points. Due to strong positive momentum, the stock ended at $40.68, which is also near the day’s high of $40.805. The stock began the session at $40.51 and the volume stood at 9,92,926 shares. The 52-week high of the shares is $53.89 and the 52 week low is $30.41. The company has a current market capitalization of $16,138 M and it has 39,66,96,160 shares in outstanding.

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.

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