MG.TO - Magna International Inc.

Toronto - Toronto Delayed Price. Currency in CAD
68.23
-1.40 (-2.01%)
At close: 4:00PM EST
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Previous Close69.63
Open70.59
Bid68.09 x 0
Ask68.10 x 0
Day's Range67.74 - 70.99
52 Week Range57.34 - 76.11
Volume1,223,222
Avg. Volume650,083
Market Cap20.867B
Beta (5Y Monthly)1.42
PE Ratio (TTM)12.35
EPS (TTM)5.53
Earnings DateMay 06, 2020 - May 10, 2020
Forward Dividend & Yield1.92 (2.76%)
Ex-Dividend DateNov. 20, 2019
1y Target Est66.02
  • TFSA Investor: 1 High-Yield Dividend Stock That Yields Up to 4.96%
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  • Thomson Reuters StreetEvents

    Edited Transcript of MG.TO earnings conference call or presentation 21-Feb-20 12:00pm GMT

    Q4 2019 Magna International Inc Earnings Call

  • Magna says some plants in China still offline, parts supplies a concern
    The Canadian Press

    Magna says some plants in China still offline, parts supplies a concern

    AURORA, Ont. — Magna International Inc. says its operations in China are still running under capacity because of the novel coronavirus outbreak, but that it's too early to say what the long-term impacts might be.The Aurora, Ont.-based auto parts maker says that many of its 55 manufacturing plants and 13 development and sales offices are back up and running, though not at full capacity, while some are still closed. The biggest impacts for Magna of the virus known as COVID-19, however, may be from disrupted parts shipments to its larger operations aboard, said CEO Don Walker on a conference call Friday."We are relatively small in China, so the biggest thing that I'm interested in, quite frankly is, is the production holes in the shipments that are coming back to Europe and North America."Company CFO Vincent Galifi said the company is still uncertain what kind of effect the outbreak will have on sales. It also doesn't yet know what additional costs it will incur due to plant inefficiencies resulting from their lower staffing levels."It is too early to tell. Our plants have been resuming operations, albeit at lower utilization levels. We'll get a better feel as we get to the end of Q1," said Galifi.He said that the company doesn't expect to take longer-term impairment charges because of the virus, as production levels should return to normal eventually.The company has maintained its 2020 outlook, though it notes it has not made any adjustments from COVID-19 since it's still too early to say when customer operations will fully resume, how well they will be able to recover lost production, and what risks there are to the supply chain. Uncertainty on the virus did not stop the company from raising its quarterly dividend to 40 cents per share, up from 36.5 cents per share, as it reported a fourth-quarter profit attributable to the company of US$440 million.The increased payment to shareholders came as Magna says its latest profit amounted to US$1.43 per diluted share compared with a profit US$456 million or US$1.37 per diluted share a year ago when it had more shares outstanding.Sales for the company, which keeps its books in U.S. dollars, totalled nearly $9.4 billion, down from $10.1 billion in the fourth quarter of 2018. Sales were hit by the protracted General Motors strike that contributed to a seven per cent cut in light vehicle production, as well as a three per cent decline in European production.On an adjusted basis, Magna says it earned $1.41 per diluted share in its most recent quarter, down from an adjusted profit of $1.63 per diluted share in the same quarter a year earlier.Analysts on average had expected an adjusted profit of $1.33 per share, according to financial markets data firm Refinitiv.This report by The Canadian Press was first published Feb. 21, 2020.Companies in this story: (TSX:MG)The Canadian Press

  • Baystreet

    Stocks in play: Magna International Inc

    Reported financial results for the fourth quarter and year ended December 31, 2019. Fourth-Quarter 2019 ...

  • GlobeNewswire

    Magna Announces Fourth Quarter and 2019 Results and Raises Quarterly Cash Dividend per Share by 10%

    Fourth Quarter 2019 Highlights Cash from operations increased to $1.70 billion, despite lower sales and earningsReturned $365 million to shareholders through share repurchases.

  • Should You Buy Magna (MGA) Ahead of Earnings?
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  • Why the Magna (TSX:MG) Stock Price Fell 5.8% in January
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    Why the Magna (TSX:MG) Stock Price Fell 5.8% in January

    Magna International Inc.’s (TSX:MG)(NYSE:MGA) stock price fell in January, as investor sentiment toward the stock remains poor due to factors such as the coronavirus. The risks mount.

  • GlobeNewswire

    Fourth Quarter & Year End 2019 Results Conference Call

    AURORA, Ontario, Feb. 05, 2020 -- Magna International Inc. (TSX:MG) (NYSE:MGA) FOURTH QUARTER & YEAR END 2019 RESULTS CONFERENCE CALLFRIDAY – FEBRUARY 21, 20207:00 AM.

  • Are Magna International Inc.’s (TSE:MG) Returns On Investment Worth Your While?
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  • SALE: 3 Cheap (and Defensive) TSX Stocks for Passive Income
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    SALE: 3 Cheap (and Defensive) TSX Stocks for Passive Income

    Magna International Inc. (TSX:MG)(NYSE:MGA) and two other stocks are on sale right now and mix defensive qualities with dividends.

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    Canada Revenue Agency: 2 Steps to Stay Ahead of the CRA With Your RRSP

    Make early contributions to your RRSP and invest in National Bank of Canada stock and Magna stock to build wealth. Defer the tax deductions before actual retirement and use the same to minimize the tax bite when your income is higher.

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    Tesla Inc. Is Expensive: Own This Car Stock Instead

    Although Tesla Inc. (NASDAQ:TSLA) is a hot stock, you would be better off over the long-term owning shares of Magna International Inc. (TSX:MG)(NYS:MGA).

  • Forget Tesla! This Canadian Self-Driving Stock Is a Better Bet
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    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.

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  • 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.

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  • 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.

  • Do You Like Magna International Inc. (TSE:MG) At This P/E Ratio?
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    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.

  • Is Magna International Inc. (TSE:MG) Trading At A 27% Discount?
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    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...

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