Magna International, Inc. (NYSE:MGA) is reporting third quarter financial results on Friday 6th November 2020, before market open.
According to analysts surveyed by Thomson Reuters, MGA is expected to report 3Q20 income of $ 1.35 per share from revenue of $ 9075.92 million.
For the full year, analysts anticipate top line of $ 31458.90 million, while looking forward to income of $ 2.20 per share bottom line.
The Company Outlook
Full Year 2020 topline are forecasted in a range of$ 30,000.00 million ~ $ 32,000.00 million
Click Here For More Historical Outlooks Of Magna International, Inc.
Previous Quarter Performance
Magna International, Inc. announced loss for the second quarter of $ 1.71 per share, from the revenue of $ 4,293.00 million. The quarterly revenues shrunk 57.60 percent compared with the same quarter last year. Wall street analysts are predicting, MGA to report 2Q20 loss of $ 1.64 per share from revenue of $ 4141.68 million. The bottom line results missed street analysts by $ 0.07 or 4.27 percent, at the same time, top line results outshined analysts by $ 151.32 million or 3.65 percent.
Stock Performance
Shares of Magna International, Inc. traded up $ 3.57 or 6.89 percent on Thursday, reaching $ 55.38 with volume of 1.05 million shares. Magna International, Inc. has traded high as $ 55.40 and has cracked $ 52.83 on the downward trend
According to the previous trading day, closing price of $ 55.38, representing a 127.74 % increase from the 52 week low of $ 22.75 and a 9.25 % decrease over the 52 week high of $ 57.09.
The company has a market capital of $ 16.54 billion and is part of the Consumer Cyclical sector and Auto Parts industry.
Recent Analyst recommendations
- On 26th October 2020, maintained by TD Securities at Buy rating, with $ 64.00 target price.
Recent Stock Dividend Announcement
On August 7, 2020, the board of directors authorized quarterly dividend of $ 0.40 per share to holders of record as of the close of business on August 21, 2020, with payment date of September 4, 2020 and ex-dividend date on August 20, 2020.
Conference Call
Magna International, Inc. will be hosting a conference call at 8:00 AM eastern time on 6th November 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.magna.com
Magna International Inc. designs, develops, and manufactures automotive systems, assemblies, modules, and components in North America, Europe, Asia Pacific, and internationally. The Body Exteriors & Structures segment provides body structures; chassis structures, such as frame and structural assemblies, chassis subframes, and suspension systems; exterior systems and modules, including hoods, roofs, door panels, front end modules, liftgate modules, polycarbonate roof panels, liftgate sensor integration systems, and fascia; trim and automotive jewelry comprises engineered glass, trim and roof racks, and running boards; non-visible and visible active grille shutters, active air deflectors, and underbody panels; and fuel systems, pipes and components, and alternative energy storage systems.
