MG.TO - Magna International Inc.

Toronto - Toronto Delayed Price. Currency in CAD
64.83
+1.14 (+1.79%)
At close: 4:00PM EDT
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Previous Close63.69
Open64.29
Bid64.79 x 0
Ask64.81 x 0
Day's Range64.19 - 65.00
52 Week Range57.34 - 76.11
Volume675,277
Avg. Volume816,707
Market Cap20.345B
Beta (3Y Monthly)1.66
PE Ratio (TTM)8.33
EPS (TTM)7.78
Earnings DateNov 6, 2019 - Nov 11, 2019
Forward Dividend & Yield1.94 (3.07%)
Ex-Dividend Date2019-08-22
1y Target Est66.02
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  • Thomson Reuters StreetEvents

    Edited Transcript of MG.TO earnings conference call or presentation 8-Aug-19 12:00pm GMT

    Q2 2019 Magna International Inc Earnings Call

  • GlobeNewswire

    Magna Celebrates Opening of New Electronics Facility

    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.

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  • Magna International (MGA) Q2 2019 Earnings Call Transcript
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    Magna International (MGA) Q2 2019 Earnings Call Transcript

    MGA earnings call for the period ending June 30, 2019.

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    Automakers are cutting production as auto sales slide.

  • Magna International shares rise despite lower Q2 profit and sales outlook cut
    The Canadian Press

    Magna International shares rise despite lower Q2 profit and sales outlook cut

    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

  • GlobeNewswire

    Magna Announces Second Quarter Results

    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%.

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  • GlobeNewswire

    Magna Grows Seat Business With New Ohio Facility

    Magna has won new seating business in North America with a global automaker and will supply seat structures from a new manufacturing facility in Lancaster, Ohio. The company held a groundbreaking ceremony today at the site where construction has recently started on the 150,000-square-foot facility with an initial investment of approximately $60 million. The event was attended by Magna CEO Don Walker, U.S. Representative Steve Stivers, and U.S. Vice President Mike Pence.

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  • GlobeNewswire

    Magna Celebrates the Signing of Its First Complete Vehicle Manufacturing Joint Venture in China

    Today Magna, BAIC Group and the Zhenjiang government celebrated the signing of a framework agreement governing their electric vehicle manufacturing joint venture in Zhenjiang, China, which marks another milestone of their continued cooperation. Executives from both companies and Zhenjiang government officials attended the celebration.

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    Magna International Inc (TSX:MG)(NYSE:MGA) grows its dividend but fails to attract investors.

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