Magna International Inc.

Equities

MG

CA5592224011

Auto, Truck & Motorcycle Parts

Market Closed - Toronto S.E. Other stock markets 04:00:00 2024-05-28 pm EDT			5-day change	1st Jan Change
61.84 ^CAD	-1.26%		-2.60%	-21.01%

May. 27	Magna International Inc. announced that it expects to receive CAD 450 million in funding	CI
May. 15	Magna International Inc. (TSX:MG) agreed to acquire He System Electronic GmbH & Co. KG from TKH Technologie Deutschland AG.	CI

Magna International Announces First Quarter 2024 Results

May 06, 2024 at 11:42 am EDT

AURORA, Ontario, - Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the first quarter ended March 31, 2024.

Swamy Kotagiri, Magna CEO

'Our first quarter results exceeded our expectations for sales and earnings, excluding the impact of impairment charges. As a result of our continued focus on cost containment, customer recoveries and operational excellence, we are maintaining our Adjusted EBIT margin outlook range for 2024 and see continued progress on our planned margin expansion despite uncertainty of electrification volumes and product mix in the industry.'

Swamy Kotagiri, Magna's Chief Executive Officer

https://www.magna.com/docs/default-source/2024-news---press-releases/magna-2024q1-pr.pdf?sfvrsn=360e7c8e_1

Latest news about Magna International Inc.

Magna International Inc. announced that it expects to receive CAD 450 million in funding	May. 26	CI
Magna International Inc. (TSX:MG) agreed to acquire He System Electronic GmbH & Co. KG from TKH Technologie Deutschland AG.	May. 14	CI
Magna International Inc. (TSX:MG) agreed to acquire He System Electronic GmbH & Co. KG from TKH Technologie Deutschland AG.	May. 14	CI
Morgan Stanley Adjusts Price Target on Magna International to $60 From $65, Keeps Overweight Rating	May. 10	MT
UBS Adjusts Magna International Price Target to $51 From $56, Maintains Neutral Rating	May. 06	MT
Goldman Sachs Adjusts Price Target on Magna International to $48 From $56, Maintains Neutral Rating	May. 06	MT
Wells Fargo Adjusts Price Target on Magna International to $49 From $52, Maintains Equal-Weight Rating	May. 06	MT
Magna International Price Target Lowered to US$54 at CIBC	May. 06	MT
Toronto Stocks Advance; Magna International Falls on Lower 1Q Profit	May. 03	DJ
Magna International Cuts Full-Year Sales Guidance as First-Quarter Results Miss Views	May. 03	MT
Magna Brief: But RBC Notes Consensus Was Already Close to the New Guidance, So It Would Not Expect a Significant Down Move In Shares	May. 03	MT
Magna Brief: RBC Suspects Veoneer contributed losses in the quarter	May. 03	MT
Magna Brief: RBC Says Bottom Line, Magna missed on Q1 largely on Power and Vision margins	May. 03	MT
Magna Brief: RBC With Quick Take Notes Q1 Misses, 2024 Guide Lowered Slightly; Sentiment "Negative"; Has Sector Perform and Price Target of US$60	May. 03	MT
MAGNA CEO SAYS ASSESSING POTENTIAL IMPACTS FROM CHANGING ELECTRI…	May. 03	RE
Transcript : Magna International Inc., Q1 2024 Earnings Call, May 03, 2024	May. 03
Magna International Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024	May. 03	CI
Stock Futures Robust Pre-Bell Ahead of April Jobs Report; Asia Churns, Europe Gains	May. 03	MT
Magna misses profit estimates, cuts annual sales forecast on supply chain issues	May. 03	RE
Magna Posts Q1 Miss; Shares Down 5%, Nearer 52 Week Low Levels In US Premarket	May. 03	MT
Magna Brief: Shares Down 5% To Near 52 Week Low Levels In US Premarket Trade	May. 03	MT
Magna Brief: Earlier Reported Q1 Adjusted diluted EPS US$1.08; Sales increased 3% to $11.0 Billion; Maintained 2024 Adjusted EBIT Margin Outlook range of 5.4%-6.0%	May. 03	MT
Magna International's Q1 Adjusted Earnings Decline, Sales Increase	May. 03	MT
Serve Robotics Expands Accord With Magna International to Bolster Robot Manufacturing	Apr. 24	MT
Serve Robotics Inc. Enters Production Agreement with Magna International Inc. to Scale Robot Manufacturing	Apr. 24	CI

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Company Profile

Magna International Inc. is a Canada-based global automotive supplier. The Company has complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, electronics, mechatronics, mirrors, lighting, and roof systems. Its Veoneer Active Safety provides sensor, software and systems engineering solutions to a range of customers. The Company's segments include Body Exteriors & Structures; Power & Vision; Seating Systems; and Complete Vehicles. Its Body Exteriors & Structures include body structures, chassis structures, exterior, energy storage systems and other. Its Power & Vision products include electrified powertrain technologies, powertrain subsystems and other. Its Complete Vehicles consist of complete vehicle engineering and complete vehicle manufacturing. The Company's global network includes 341 manufacturing operations and 88 product development.

Sector

Auto, Truck & Motorcycle Parts

Calendar

2024-08-08 - Q2 2024 Earnings Release (Projected)

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Ratings for Magna International Inc.

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ESG Refinitiv

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Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

45.92 USD

Average target price

59.14 USD

Spread / Average Target

+28.78%

Consensus

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Quarterly earnings - Rate of surprise

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