Magna Reports Record Q3 Results, Slight Guidance Tweak; Maintaining Our $46 Fair Value Estimate
No-moat Magna International, automotive supplier of body, chassis, exterior, powertrain, and seating systems, reported record earnings per share before special items for third-quarter 2016 of $1.29, a whopping $0.16 higher than the year-ago period and $0.09 ahead of consensus EPS. Record third-quarter revenue was $8.8 billion, a strong increase of 16% versus third-quarter 2015. Excluding the impact of currency, acquisitions, and divestitures, revenue growth was a very solid 9% compared with the ...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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