BMO Capital Downgrades Magna International (USA) to Market Perform

Brokerage firm BMO Capital Downgrades its rating on Magna International (USA)(NYSE:MGA). The shares have been rated Market Perform. Previously, the analysts had a Outperform rating on the shares. The rating by BMO Capital was issued on Jun 28, 2016.

Magna International (USA) (MGA) shares turned negative on Fridays trading session with the shares closing down -0.04 points or -0.11% at a volume of 12,51,700. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $35.84. The peak price level was also seen at $35.84 while the days lowest was $34.83. Finally the shares closed at $35.03. The 52-week high of the shares is $57.62 while the 52-week low is $30.41. According to the latest information available, the market cap of the company is $13,896 M.

Magna International (USA)(MGA) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $8.90B. Analysts had an estimated revenue of $8.64B. Earnings per share were $1.22. Analysts had estimated an EPS of $1.19.

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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