Magna International Inc. (MG.TO)
| Previous Close | 66.20 |
| Open | 63.85 |
| Bid | 64.28 x 0 |
| Ask | 64.35 x 0 |
| Day's Range | 62.90 - 65.00 |
| 52 Week Range | 62.90 - 87.00 |
| Volume | |
| Avg. Volume | 1,204,208 |
| Market Cap | 18.478B |
| Beta (5Y Monthly) | 1.68 |
| PE Ratio (TTM) | 11.03 |
| EPS (TTM) | 5.83 |
| Earnings Date | May 03, 2024 |
| Forward Dividend & Yield | 2.56 (3.86%) |
| Ex-Dividend Date | Feb 22, 2024 |
| 1y Target Est | 85.85 |
- Reuters
UPDATE 1-Magna lags profit estimates, cuts annual sales forecast on supply chain snags
Canada's Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. Auto parts suppliers have been struggling with lower-than-expected demand for their EV components, as carmakers shift their focus toward producing affordable hybrid vehicles instead. Magna, which produces powertrains, along with assembling complete vehicles, signed agreements with Fisker in 2020 to engineer and manufacture its Ocean SUV.
The Canadian PressMagna reports Q1 profit down from year ago, takes charge related to Fisker
TORONTO — Magna International Inc. says its first-quarter profit fell compared with a year ago as it recorded US$316 million in asset impairments and restructuring costs related to troubled electric vehicle company Fisker. Magna builds the Ocean SUV for Fisker, which failed to make a required interest payment in March and warned it could seek bankruptcy protection. Magna, which keeps its books in U.S. dollars, says it earned US$9 million or three cents US per diluted share for the quarter ended
- Reuters
Magna lags profit estimates, cuts annual sales forecast on supply chain snags
(Reuters) -Canada's Magna International missed first-quarter profit estimates and cut its full-year overall sales forecast on Friday, as auto parts suppliers navigate ongoing supply constraints and bumpy demand for electric vehicles. Auto parts suppliers have been struggling with lower-than-expected demand for their EV components, as carmakers shift their focus toward producing affordable hybrid vehicles instead. Magna, which produces powertrains, along with assembling complete vehicles, signed agreements with Fisker in 2020 to engineer and manufacture its Ocean SUV.
