Magna 1Q Results Disappoint, Reduces 2019 Outlook; $60 Fair Value Maintained
No-moat Magna reported first-quarter 2019 diluted earnings per share before special items (EPS) of $1.63, $0.21 lower than the same period last year and $0.07 short of the sell-side consensus EPS of $1.70. Revenue of $10.59 billion represented a 1.9% decrease compared with $10.79 billion reported for first-quarter 2017. Management also reduced 2019 revenue and margin outlook, on average, by 3% and by 0.6 percentage points, respectively, relative to prior guidance. The news sent shares lower by 1...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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