|Bid||70.93 x 0|
|Ask||70.98 x 0|
|Day's Range||69.75 - 71.28|
|52 Week Range||57.34 - 76.11|
|Beta (3Y Monthly)||1.67|
|PE Ratio (TTM)||9.11|
|Earnings Date||Nov. 8, 2019|
|Forward Dividend & Yield||1.93 (2.76%)|
|1y Target Est||66.02|
While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...
AURORA, Ontario, Oct. 11, 2019 -- Magna International Inc. (TSX:MG) (NYSE:MGA) THIRD QUARTER 2019 RESULTS CONFERENCE CALLFRIDAY – NOVEMBER 8, 20198:00 AM ET DIAL IN.
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TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (16,834.75, up 83.44 points.)Encana Corp. (TSX:ECA). Energy. Down 48 cents, or 6.53 per cent, to $6.87 on 15.8 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Down four cents, or 1.78 per cent, to $2.21 on 13 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Down 22 cents, or 3.51 per cent, to $6.05 on 8.4 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 27 cents, or 3.72 per cent, to $6.99 on 8.1 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $1.12, or 2.95 per cent, to $36.85 on 8 million shares.Kinross Gold Corp. (TSX:K). Materials. Up 35 cents, or 5.38 per cent, to $6.86 on 5.8 million shares.Companies in the news:CannTrust Holdings Inc. (TSX:TRST). Down 29 cents or 14.6 per cent to $1.70. CannTrust Holdings Inc. says it received a notice of licence suspension from Health Canada, which has been investigating the cannabis company for allegedly cultivating pot in unlicensed rooms. The Vaughan, Ont.-based company says Health Canada has suspended its authority to sell cannabis or to produce cannabis, other than cultivating and harvesting.Magna International. (TSX:MG). Unchanged at $71.32. Canadian manufacturers say they are keeping a close eye on the strike at General Motors in the U.S. as workers picket for a second day. More than 48,000 unionized workers in the U.S. walked off the job Monday over issues such as wages, health care and job security in the first strike at the U.S. manufacturer in more than a decade. Magna International spokesman Scott Worden said in a statement that the auto parts maker was in a "wait-and-see" mode and declined to outline impacts so far.Canopy Growth Corp. (TSX:WEED). Up 59 cents or 1.6 per cent to $37.50. Canopy Growth Corp. expects to complete its search for a new chief executive officer by the end of the calendar year, its chairman said Tuesday during its first annual meeting without co-founder Bruce Linton at the helm. Chairman John Bell commended Linton on his hefty contributions to the Smiths Falls, Ont.-based cannabis producer. Meanwhile, Linton also on Tuesday, announced his next moves will include advisory roles including at U.S.-based dispensary company Gage Cannabis Co. and Toronto-based Mind Medicine Inc., which is focused on psychedelic-based medicines.Imperial Oil Ltd. (TSX:IMO). Up 26 cents to $36.57. Imperial Oil Ltd. announced Tuesday that chairman and chief executive Rich Kruger will step down after leading the Calgary-based company, which is about 70 per cent owned by Texas-based Exxon Mobil Corp., since 2013. In his role, Kruger complained publicly often about red tape, focusing in recent years on how long it took to win Alberta regulatory approval for the two-phase, 150,000-barrel-per-day Aspen thermal oilsands project, first proposed in 2013. Analysts said they expect little change in direction under Brad Corson, a 36-year Exxon employee who becomes president immediately and becomes chairman and CEO on Jan. 1.Shopify Inc. (TSX:SHOP).Down $11.81 or 2.6 per cent to $435.67. Shopify Inc. says its e-commerce and retail platform has been given new features to help U.S. merchants sell hemp and hemp-derived cannabidiol products where permitted by law. The announcement follows last year's passage of U.S. federal legislation that removed hemp from the Controlled Substances Act, which still covers cannabis products. Hemp may contain CBD, a compound with potential medicinal qualities, but without significant levels of THC — a compound in cannabis that produces a high. Shopify says the new features will help its clients tap into a growing regulated industry in the U.S. by providing tools for marketing, payments and shipping products. The Canadian Press
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Magna celebrated the opening of a new electronics manufacturing facility today in Grand Blanc Township, Michigan. The facility consolidates three nearby locations into a single state-of-the-art facility that combines 21st-century manufacturing with people-first workplace design and functionality. The new facility allows Magna to accelerate large-scale deployment of future technologies such as advanced driver assistance systems (ADAS), advanced robotics and micro-LED lighting.
AURORA, Ont. — Shares in Magna International Inc. rose by as much as 4.6 per cent on Thursday despite the auto parts maker cutting its sales forecast for the year and reporting lower second-quarter sales and earnings.The stock traded as high as $67.40, up $2.99, on Thursday morning, before receding."We posted solid second quarter sales and adjusted diluted earnings per share despite a challenging global production environment," said chief financial officer Vince Galifi on a conference call, citing higher costs in its active driver assistance systems business, lower equity income and the impact of divestitures and foreign currency translation due to the strong U.S. dollar."Overall, our results came in slightly ahead of our internal expectations for the quarter."On an organic basis, sales increased five per cent compared to a six per cent decline in global vehicle production, said Galifi. But the company said total sales including currency translation and divestitures decreased by one per cent to US$10.1 billion.The company, which reports its financial results in U.S. dollars, released a 2019 sales outlook range that's $200 million lower than previous guidance at between $38.9 billion and $41.1 billion.The outlook changes are "relatively minor," Galifi said on the call, and include lower assumptions for light vehicle production volumes in each of its principal markets in North America, Europe and China.Adjusted earnings were also lowered, by 10 basis points to between 6.6 and 6.9 per cent, mainly reflecting a reduction in seating systems division margins. Capital spending was reduced to $1.6 billion from about $1.7 billion.The results were "mostly" in line with expectations, said analyst Peter Sklar of BMO Capital Markets."We estimate that excluding the FP&C (Fluid Pressure and Controls) divestiture (in March), Magna's adjusted operating income was approximately flat year-over-year, which supports our investment thesis that during periods of flat-to-declining global light vehicle production, it is difficult for auto parts manufacturers to grow earnings," he wrote in a report.Magna's net income was $452 million on revenue of $10.13 billion, down from $626 million on $10.28 billion of revenue in last year's second quarter.Adjusted net income fell to $509 million or $1.59 per share, from $590 million or $1.67 per share.The results beat analyst estimates of $9.88 billion of revenue and $489 million or $1.53 per share of adjusted net income, according to financial markets data firm Refinitiv. Companies in this story: (TSX:MG)The Canadian Press
Sales of $10.1 billion decreased 1%, compared to global light vehicle production down 6%Excluding foreign currency translation and divestitures net of acquisitions, sales up 5%.