NEW YORK (TheStreet) -- Shares of Magna International (MGA) are higher by 3.15% to $108.47 in mid-morning trading on Friday, after the company reported a rise in second quarter 2014 net sales to $510 million, or $2.32 per diluted share, compared to $415 million, or $1.78 per diluted share, for the year ago quarter.
Analysts polled by Thomson Reuters were expecting earnings of $2.22 per share.
The global automotive supplier said sales increased 6% to $9.46 billion for the most recent quarter, over the $8.96 billion reported for the 2013 second quarter, while analysts had expected $9.36 billion in revenue.
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TheStreet Ratings team rates MAGNA INTERNATIONAL INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation: "We rate MAGNA INTERNATIONAL INC (MGA) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins." You can view the full analysis from the report here: MGA Ratings Report
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