Magna 3Q Results Hit Record High; Maintaining $55/CAD 69 FVE
No-moat Magna, automotive supplier of body, chassis, exterior, powertrain, and seating systems, reported record third-quarter EPS before special items of $1.37, up $0.08 compared with the same period last year and $0.06 ahead of the consensus EPS. Revenue growth was a solid 7%, rising to a third-quarter record $9.5 billion compared with $8.8 billion in the prior year. Excluding a positive 3 percentage points from currency effect, divestitures, and acquisitions, revenue would have increased by 4%...Magna is a global automotive supplier whose product capabilities include producing body, chassis, exterior, seating, powertrain, electronic, vision, closure and roof systems and modules, as well as vehicle engineering and contract manufacturing. Co.'s operations are segmented on a geographic basis. Co.'s segments consist of North America, Europe, Asia and Rest of World.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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