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Magna International Inc. (MGA)

NYSE - NYSE Delayed Price. Currency in USD
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98.51+2.45 (+2.55%)
At close: 4:00PM EDT

99.00 +0.49 (0.50%)
After hours: 7:59PM EDT

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Previous Close96.06
Bid98.01 x 900
Ask98.51 x 800
Day's Range94.91 - 98.79
52 Week Range34.82 - 99.72
Avg. Volume1,601,179
Market Cap28.949B
Beta (5Y Monthly)1.60
PE Ratio (TTM)39.09
EPS (TTM)2.52
Earnings DateAug 05, 2021 - Aug 09, 2021
Forward Dividend & Yield1.72 (1.75%)
Ex-Dividend DateMar 04, 2021
1y Target Est103.06
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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-23% Est. Return
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  • Magna Posts Better-Than-Expected 1Q Results, Profit More Than Doubles

    Magna Posts Better-Than-Expected 1Q Results, Profit More Than Doubles

    Magna International (MG) beat earnings and revenue estimates in its first quarter, fueled by strong demand for car structures in China. Magna’s total revenue for 1Q 2021 came in at $10.18 billion, an increase of 17.5% from a revenue of $8.66 billion reported in 1Q 2020. In addition, it beat estimates of $9.53 billion. The rise in sales came as global light vehicle production rose 18%, thanks to an 87% increase in China. Meanwhile, the Canadian auto parts maker reported a profit of $615 million ($2.03 per diluted share) in 1Q 2021, up 136% from $261 million ($0.86 per diluted share) in 1Q 2020. A strong recovery in the global automotive sector and massive growth in the Chinese market boosted profit. On an adjusted basis, Magna earned $1.86 per share for its most recent quarter compared with an adjusted profit of $0.86 per share in the prior-year period. Adjusted profit was higher than analysts' expectations of $1.57. Magna’s CEO Swamy Kotagiri said, "We generated strong earnings in the first quarter of 2021 despite industry supply constraints that impacted OEM production schedules. We expect supply constraints to continue through at least the second quarter. As we look past the near-term industry headwinds, we see considerable growth opportunities for Magna in the coming years." Magna slightly raised its full-year revenue forecast of $40.2 billion to $41.8 billion, compared to its earlier revenue expectations of between $40.0 billion to $41.6 billion. (See Magna International stock analysis on TipRanks) Last week, BMO Capital analyst Peter Sklar reiterated a Buy rating on MG with a price target of $99.00 (C$121.31) for a 3.3% upside potential. Overall, MG scores a Strong Buy consensus rating among analysts based on 9 Buys and 3 Holds. The average analyst price target of C$128.67 implies a 9.6% upside potential to current levels. On top of that, Magna scores a 9 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock has strong potential to outperform the overall market. Shares have risen by approximately 30% year-to-date. Related News: Spin Master Delivers Strong Revenue And Profit Growth In 1Q; Shares Pop 10% Cineplex’s 1Q Revenue Falls 85% As Most Theaters Remain Closed; Shares Drop 5% Jamieson Wellness Delivers Double-Digit Revenue Growth In 1Q More recent articles from Smarter Analyst: Bombardier's Railway Sale Boosts 1Q Profit Spin Master Delivers Strong Revenue And Profit Growth In 1Q; Shares Pop 10% Cineplex's 1Q Revenue Falls 85% As Most Theaters Remain Closed; Shares Drop 5% Moderna Posts First Quarterly Profit, Revenue Disappoints

  • Magna Announces 2021 Annual Meeting Results

    Magna Announces 2021 Annual Meeting Results

    AURORA, Ontario, May 06, 2021 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2021 annual meeting of shareholders held on May 6, 2021. A total of 242,383,350 Common Shares or 80.43% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows: a. Election of Directors NomineeVotes FORNomineeVotes FORPeter G. Bowie99.81%Mary Lou Maher99.77%Mary S. Chan99.15%Cynthia A. Niekamp99.93%Hon. V. Peter Harder99.10%William A. Ruh99.94%Seetarama S. Kotagiri (CEO)99.77%Dr. Indira V. Samarasekera98.13%Dr. Kurt J. Lauk99.56%Lisa S. Westlake99.12%Robert F. MacLellan99.53%William L. Young97.25% b. Other Items of Business ItemVotes FORReappointment of Deloitte99.68%Say on Pay93.33% Based on the voting results, each of the 12 nominees was elected with a substantial majority. Similarly, Deloitte was reappointed as Magna’s independent auditors and the Say on Pay resolution was approved, in each case by a substantial majority. Detailed voting results are included as Appendix “A” to this press release. INVESTOR CONTACTLouis Tonelli, Vice-President, Investor Relations louis.tonelli@magna.com │ 905.726.7035 MEDIA CONTACT Tracy Fuerst, Vice-President, Corporate Communications & PR tracy.fuerst@magna.com │ 248.631.5396 OUR BUSINESS (1)Magna is more than one of the world’s largest suppliers in the automotive space. We are a mobility technology company with a global, entrepreneurial-minded team of 158,000 employees and an organizational structure designed to innovate like a startup. With 60+ years of expertise, and a systems approach to design, engineering and manufacturing that touches nearly every aspect of the vehicle, we are positioned to support advancing mobility in a transforming industry. Our global network includes 347 manufacturing operations and 84 product development, engineering and sales centres spanning 28 countries. For further information about Magna (NYSE:MGA; TSX:MG), please visit www.magna.com or follow us on Twitter @MagnaInt. _____________________ (1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations. Appendix “A” VOTING RESULTS - 2021 ANNUAL MEETING OF SHAREHOLDERS ResolutionVotes ForVotes Withheld/Against#%#%Elect Peter G. Bowie as Director234,432,16999.81446,8130.19Elect Mary S. Chan as Director232,881,59999.151,997,3830.85Elect Hon. V. Peter Harder as Director232,770,08999.102,108,8930.90Elect Seetarama S. Kotagiri (CEO) as Director234,347,74499.77531,2380.23Elect Dr. Kurt J. Lauk as Director233,856,51099.561,022,4720.44Elect Robert F. MacLellan as Director233,763,58899.531,115,3940.47Elect Mary Lou Maher as Director234,334,99199.77543,9910.23Elect Cynthia A. Niekamp as Director234,708,19599.93170,7870.07Elect William A. Ruh as Director234,738,84499.94140,1380.06Elect Dr. Indira V. Samarasekera as Director230,484,46498.134,394,5181.87Elect Lisa S. Westlake as Director232,821,58199.122,057,4010.88Elect William L. Young as Director228,420,69697.256,458,2862.75Re-Appointment of Deloitte LLP as Auditors241,597,26999.68786,0810.32Advisory Resolution on Executive Compensation219,222,30593.3315,656,6776.67

  • Magna (MGA) Q1 Earnings and Revenues Surpass Estimates

    Magna (MGA) Q1 Earnings and Revenues Surpass Estimates

    Magna (MGA) delivered earnings and revenue surprises of 18.47% and 7.52%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?