Magna International Up 5.3% On Earnings News (MGA)

Shares of automotive supplier Magna International, Inc. MGA are currently up 5.3% at $78.95 per share during Friday afternoon trading. Today's trading range for shares of Magna International, Inc has been between $78.70 and $81.24 per share. The consensus price target of analysts covering the company's stock is $84.27 per share. Volume of 1.6 million shares is well above the daily average volume of 1 million shares. Magna International, Inc. (MGA) released financial results on Friday before the market opened that far exceeded Wall Street estimates. The company reported 2nd quarter earnings of $2.59 per share, on revenue of $6.05 billion. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of $1.46 per share, on revenue of $5.41 billion. The company forecast full year revenue in the range of $22 billion to $23 billion. Read more from Benzinga's Company news.