Ahead of Magna (MGA) Q3 Earnings: Get Ready With Wall Street Estimates for Key Metrics

In its upcoming report, Magna (MGA) is predicted by Wall Street analysts to post quarterly earnings of $1.48 per share, reflecting an increase of 1.4% compared to the same period last year. Revenues are forecasted to be $10.57 billion, representing a year-over-year decrease of 1.1%.Over the last 30 days, there has been a downward revision of 4.4% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.Given this perspective, it's time to examine the average forecasts of specific Magna metrics that are routinely monitored and predicted by Wall Street analysts.The average prediction of analysts places 'Sales- Body Exteriors & Structures' at $4.32 billion. The estimate indicates a year-over-year change of -0.7%.Based on the collective assessment of analysts, 'Sales- Power & Vision' should arrive at $3.83 billion. The estimate indicates a year-over-year change of +2.2%.Analysts expect 'Sales- Complete Vehicles' to come in at $1.13 billion. The estimate indicates a year-over-year change of -4.9%.It is projected by analysts that the 'Sales- Seating Systems' will reach $1.44 billion. The estimate indicates a change of -6.2% from the prior-year quarter.Analysts predict that the 'Adjusted EBIT- Body Exteriors & Structures' will reach $345.33 million. Compared to the current estimate, the company reported $358 million in the same quarter of the previous year.The consensus estimate for 'Adjusted EBIT- Power & Vision' stands at $228.09 million. Compared to the current estimate, the company reported $221 million in the same quarter of the previous year.Analysts' assessment points toward 'Adjusted EBIT- Seating Systems' reaching $54.31 million. Compared to the present estimate, the company reported $70 million in the same quarter last year.View all Key Company Metrics for Magna here>>>Shares of Magna have experienced a change of +1.6% in the past month compared to the +1.8% move of the Zacks S&P 500 composite. With a Zacks Rank #5 (Strong Sell), MGA is expected to underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Magna International Inc. (MGA): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks