For its fourth fiscal quarter (ending December 31), Magnite Inc (NASDAQ: MGNI) has reported E.P.S. of $0.22 compared to $-0.27 a year ago. This performance was $-0.05 short of the consensus estimate of $0.28. E.P.S. were $-1.17 for the latest four quarters through December 31 versus $-0.98 for the same period a year ago.
Recent Price Action
Magnite Inc (NASDAQ: MGNI) stock closed at $10.47 on 2/28/24 after a large decline of -9.1%. Moreover, this decline was accompanied by exceptionally high trading volume at 247% of normal. The stock has risen 6.3% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
With future capital returns forecasted to be above the cost of capital, MGNI is expected to continue to be a modest Value Builder.
Magnite has a current Value Trend Rating of D (Negative). The Value Trend Rating reflects contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Magnite has a slightly positive Appreciation Score of 67 but a poor Power Rating of 18, and the Negative Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
Be the first to comment