MG.TO - Magna International Inc.
| Previous Close | 70.67 |
| Open | 70.91 |
| Bid | 69.51 x 0 |
| Ask | 69.54 x 0 |
| Day's Range | 69.12 - 70.91 |
| 52 Week Range | 57.34 - 76.11 |
| Volume | 457,773 |
| Avg. Volume | 700,668 |
| Market Cap | 21.264B |
| Beta (5Y Monthly) | 1.50 |
| PE Ratio (TTM) | 12.58 |
| EPS (TTM) | 5.53 |
| Earnings Date | Feb. 19, 2020 - Feb. 23, 2020 |
| Forward Dividend & Yield | 1.92 (2.72%) |
| Ex-Dividend Date | Nov. 20, 2019 |
| 1y Target Est | 66.02 |
- The Motley Fool
Forget Tesla! This Canadian Self-Driving Stock Is a Better Bet
Elon Musk's company is flying high, but Canadian autoparts giant Magna International (TSX:MG)(NYSE:MGA) supplies the underlying technology.
- The Motley Fool
Forget Tesla (NASDAQ:TSLA): Buy This Self-Driving Stock Instead!
Tesla (NASDAQ:TSLA) has been soaring in recent months and it may be overdue for a correction.
- The Canadian Press
Most actively traded companies on the TSX
TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (17,484.77, up 69.60 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Down 57 cents, or 31.84 per cent, to $1.22 on 60.3 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Up 10 cents, or 3.72 per cent, to $2.79 on 19.2 million shares.Hexo Corp. (TSX:HEXO). Health care. Down 10 cents, or 4.15 per cent, to $2.31 on 7 million shares.Encana Corp. (TSX:ECA). Energy. Up three cents, or 0.54 per cent, to $5.56 on 6.7 million shares.Organigram Holdings Inc. (TSX:OGI). Health care. Up 36 cents, or 8.89 per cent, to $4.41 on 6.7 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Down 1.5 cents, or 8.57 per cent, to 16 cents on 5.9 million shares. Companies in the news:Bombardier Inc. — The future of Bombardier Inc. is being called into question after the company said it was actively considering alternatives to reduce its staggering debt. After exiting the commercial aircraft business, selling its aerostructures unit and unloading a large tract of land in Toronto, the company said it is working to reduce debt and "solve its capital structure." Bombardier's shares plunged more than 30 per cent to their lowest level in nearly four years following its release which pointed to a possible withdrawal from a partnership with Airbus in the commercial aircraft previously called the C Series.Magna International Inc. (TSX:MG). Up $1.22 or 1.7 per cent to $70.64. Magna International Inc. is scaling back its partnership with Lyft Inc. to co-develop self-driving technology as it focuses research and development spending on more near-term prospects. It was only about two years ago that the Aurora, Ont.,-based auto parts giant struck an ambitious partnership with ride-hailing firm Lyft to develop and manufacture self-driving systems at scale. The partnership was proposed as a way to merge Magna's automotive expertise with Lyft's data-gathering and real-world testing to roll out technology that they said was expected to be market-ready over the "next few years" as self-driving ambitions in the industry grew.Canadian Tire Corp. Ltd. (TSX:CTC.A). Up $1.48 to $144.79. Canadian Tire Corp. Ltd. is promoting Gregory Craig to the job of chief financial officer, replacing Dean McCann, who is retiring. Craig is president of Canadian Tire Financial Services and president and chief executive of Canadian Tire Bank. He takes over the new job on March 2. McCann will continue as a director of Canadian Tire Bank and a trustee of CT REIT. The company also announced that Mahes Wickramasinghe will become president of Canadian Tire Financial Services and president and chief executive of Canadian Tire Bank.Barrick Gold Corp. (TSX:ABX). Up 22 cents to $23.60. Barrick Gold Corp. says its gold production for 2019 is expected to come in near the top end of its guidance, while copper production is forecast to be more than its earlier expectations. The gold miner says preliminary results indicate it produced 5.5 million ounces of gold last year compared with its guidance for between 5.1 million and 5.6 million ounces. Preliminary copper production results indicate it produced a total of 432 million pounds compared with guidance for between 375 million and 430 million pounds. Barrick says preliminary fourth-quarter results show sales of 1.413 million ounces of gold and 91 million pounds of copper, as well as fourth quarter production of 1.439 million ounces of gold and 117 million pounds of copper.This report by The Canadian Press was first published Jan. 16, 2020.The Canadian Press
- The Canadian Press
Magna scaling back Lyft partnership as fully self-driving systems look further off
TORONTO — Magna International Inc. is scaling back its partnership with Lyft Inc. to co-develop self-driving technology as it focuses research and development spending on more near-term prospects.It was only about two years ago that the Aurora, Ont.,-based auto parts giant struck an ambitious partnership with ride-hailing firm Lyft to develop and manufacture self-driving systems at scale.The partnership was proposed as a way to merge Magna's automotive expertise with Lyft's data-gathering and real-world testing to roll out technology that they said was expected to be market-ready over the "next few years" as self-driving ambitions in the industry grew.Magna now sees fully self-driving systems as a longer-term, expensive prospect and will shift focus to driver-assist systems with more reasonable timelines, said company CEO Don Walker."I do think that the market has become more realistic about how fast the various technologies will penetrate," said Walker on a conference call.He said the industry and society are still in the early stages of what will be unprecedented changes in mobility.Swamy Kotagiri, who was promoted to company president Thursday, said Magna would continue to work with Lyft on some aspects of software and hardware, but that it has many capabilities in-house."There is a renewed focus both in the market and the industry as well as from our side in terms of the take rates for the assisted driving portion of it. And we have significant programs, and we see a possible ability to address a lot of that market."Kotagiri will also continue to oversee Magna's power and vision business, as well as its corporate research and development programs and related investments.He said the sensor requirements for the higher levels of autonomy, which don't require the driver to always be at least ready to take the wheel, are significantly different to the lower levels that it's focused on.Magna said it will focus more on near-term programs like its front and rear cameras and some surround view systems, as well as advanced radar systems.The company said that overall, it would also continue to work on lightweighting and electrification programs as emission regulations, especially in Europe, push automakers to sell more fuel-efficient vehicles.Magna said in its outlook that it expects 2020 sales to come in between US$38 billion and US$40 billion this year. It said it expects sales to be negatively impacted by a stronger U.S. dollar, the sale of its fluid pressure and controls business and lower expected light vehicle production in Europe.Looking out to 2022, the company expects sales to rise to between US$40.5 billion and US$43.5 billion.This report by The Canadian Press was first published Jan. 16, 2020.Companies in this story: (TSX:MG)Ian Bickis, The Canadian Press
- Baystreet
Record High Open for TSX
Equities in Toronto opened at a record high on Thursday, as the signing of an initial U.S.-China trade ...
- GlobeNewswire
Magna Announces Outlook
Sales growth and increased EBIT Margin1 anticipated over outlook periodForecast free cash flow2 of approximately $5.5 billion in 2020-2022 periodHigher EBIT Margin expected in.
- The Motley Fool
2 Top TSX Stocks to Buy Now and Beat the Market
Nutrien Ltd. (TSX:NTR)(NYSE:NTR) and a major North American auto stock are market leaders – but are they a buy?
- GlobeNewswire
2020 Outlook Conference Call
AURORA, Ontario, Jan. 07, 2020 -- Magna International Inc. (TSX:MG) (NYSE:MGA) 2020 OUTLOOK CONFERENCE CALLTHURSDAY – JANUARY 16, 20208:00 AM ET DIAL IN NUMBERS North.
- Simply Wall St.
Do You Like Magna International Inc. (TSE:MG) At This P/E Ratio?
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
- The Motley Fool
Prep Your TFSA for a 2020 Stock Market Crash Before it’s Too Late!
Why overweighting cyclicals like Magna International Inc. (TSX:MG)(NYSE:MGA) could cause your TFSA to lose big money in a recession.
- GlobeNewswire
Magna Powers Ferrari SF90 Stradale With Innovative Dual-Clutch Transmission
Transmission developed in cooperation with FerrariReduced weight and CO2 emissionsHigher torque delivers superior performance SAILAUF, Germany, Dec. 11, 2019 -- In.
- Simply Wall St.
Is Magna International Inc. (TSE:MG) Trading At A 27% Discount?
In this article we are going to estimate the intrinsic value of Magna International Inc. (TSE:MG) by taking the...
- The Motley Fool
3 Amazing Value Stocks for 2020
This group of bargains, including Nutrien (TSX:NTR)(NYSE:NTR), can help build your wealth the prudent way.
- The Motley Fool
1 Top TSX Stock to Buy for a U.S.-China Breakthrough
Stocks like Magna International Inc. (TSX:MG)(NYSE:MGA) could soar with a breakthrough in U.S.-China relations.
- Thomson Reuters StreetEvents
Edited Transcript of MG.TO earnings conference call or presentation 8-Nov-19 1:00pm GMT
Q3 2019 Magna International Inc Earnings Call
- GlobeNewswire
Magna’s Inaugural Global Bold Perspective Award Recognizes Inspiring Design of Future Mobility
North American finalist Zehao Zhang from ArtCenter College of Design captures top prizeFinalists from China and Europe also recognized at LA Auto ShowMore than 100 entries offer.
- Baystreet
Stocks in play: Magna International Inc.
Has agreed to acquire Wipac Czech s.r.o., a premium automotive lighting engineering firm located in ...
- GlobeNewswire
Magna to Acquire Wipac Czech s.r.o., Expand Lighting Capabilities
Acquisition to strengthen engineering and electronics competenciesWill increase Magna’s forward lighting engineering capability in EuropeA complement to the 2018 acquisition of.
- Simply Wall St.
Here's Why Magna International (TSE:MG) Can Manage Its Debt Responsibly
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
- The Motley Fool
Warren Buffett’s Favourite Auto Stock
Magna International Inc (TSX:MG) appears to be an excellent way to gain exposure to the fast growing self-driving car market and could provide outsized returns relative to the S&P 500 Composite Index.
- Yahoo Finance Canada
Canadian auto parts company Martinrea loses $90M in sales due to GM strike
Another Canadian auto parts company is taking a sales hit due to GM strike.
- GlobeNewswire
TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
Magna International Inc. (TSX: MG, NYSE: MGA) today announced that the Toronto Stock Exchange ("TSX") had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the "Notice"). Pursuant to the Notice, Magna may purchase up to 30,283,500 Magna Common Shares (the "Bid"), representing approximately 10% of its public float. As at November 1, 2019, Magna had 305,831,639 issued and outstanding Common Shares, including a public float of 302,835,169 Common Shares.
- The Canadian Press
Magna International cuts 2019 outlook after GM strike in U.S. cuts volume
Magna International Inc. has cut its outlook for the year on lost volume from the nearly six-week strike by GM workers in the United States.The Canadian auto-parts manufacturer, which reports in U.S. dollars, said Friday it now expects total sales this year of between $38.7 billion and $39.8 billion, down from between 38.9 billion and $41.1 billion.Magna also estimates 2019 net income of between $1.8 billion and $1.9 billion, a $200 million cut from the top end.The strike by 49,000 United Auto Workers shut down production at more than 30 GM facilities in the U.S. and forced GM to cut back or suspend some operations in Canada and Mexico as well — affecting suppliers like Magna.Magna chief executive Don Walker said Friday that the company, headquartered north of Toronto, in Aurora, Ont., performed fairly well given the circumstance."All things considered, including a labour strike at our largest customer, our adjusted third quarter results came in relatively in line with our expectations," Walker said on a conference call.Adjusted earnings for the quarter ending Sept. 30 came in at $1.41 per share, compared with $1.56 per share a hear earlier, but ahead of the $1.34 expected by analysts according to financial markets data firm Refinitiv.The strike, which continued until Oct. 25, will have a greater effect on fourth quarter results, the company said.Magna could regain some of the lost volume if GM runs overtime shifts, but production wouldn't be as efficient or as profitable, said Walker."[Production] may not be quite at the margins we would normally have in regular time, but it's still good for us if they're running extra volume."Unadjusted, Magna had a net loss of $233 million, or 75 cents per share, after recording a $537 million non-cash impairment charge related to its Getrag joint ventures. The ventures have been hit by declines in manual transmission demand as well as declining Chinese auto sales."We're disappointed in the recent results and future projections in the Getrag joint ventures, in particular, the growth in the Chinese joint ventures," said Walker.However, he said Magna's wholly-owned transmission business based in Europe continues to grow.This report by The Canadian Press was first published Nov. 8, 2019.Companies in this story: (TSX:MG).Ian Bickis, The Canadian Press
- The Motley Fool
GM Strike Cost Magna (TSX:MG) $1 Billion and Boosts Internet of Things
Magna International (TSX:MG)(NYSE:MGA) reduced its annual sales and net income projections on Friday and opened lower by around $3.32 -- down 4.44% as a result.
- Baystreet
Data Limits Gains at Open
Canada’s main stock index rose on Friday, as gains in the technology and health-care sectors were limited ...
