Magna International
MGA

$40.14

0.15%

Market Cap: $11.5B

About: Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contract vehicle assembly. In 2023, 48% of Magna's $42.8 billion of revenue came from North America while Europe accounted for approximately 38% and Asia the remainder. The firm's top six customers constituted 76% of revenue with the top three being GM, Mercedes, and BMW. GM was the largest contributor at 14%. The company was founded in 1957, has over 179,000 employees, and is based in Aurora, Ontario.

Employees: 177,000

0

Funds holding %

of 6,710 funds

0

Analysts bullish %

of 14 analysts

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

17% more repeat investments, than reductions

Existing positions increased: 147 | Existing positions reduced: 126

0.5% more ownership

Funds ownership: 68.12% [Q1] → 68.62% (+0.5%) [Q2]

1% less funds holding

Funds holding: 388 [Q1] → 385 (-3) [Q2]

5% less first-time investments, than exits

New positions opened: 57 | Existing positions closed: 60

13% less call options, than puts

Call options by funds: $54.9M | Put options by funds: $63M

14% less funds holding in top 10

Funds holding in top 10: 7 [Q1] → 6 (-1) [Q2]

22% less capital invested

Capital invested by funds: $11B [Q1] → $8.65B (-$2.38B) [Q2]

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Research analyst outlook

14 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$43

7%

upside

Avg. target

$51

28%

upside

High target

$63

57%

upside

14 analyst ratings

4 positive

29%

10 neutral

71%

0 negative

0%

Morgan Stanley Adam Jonas 56% 1-year accuracy 34 / 61 met price target	37%upside $55	Overweight Maintained	14 Aug 2024
RBC Capital Tom Narayan 45% 1-year accuracy 13 / 29 met price target	17%upside $47	Sector Perform Maintained	13 Aug 2024
Scotiabank Jonathan Goldman 0 / 0 met price target	25%upside $50	Sector Perform Maintained	6 Aug 2024
JP Morgan Ryan Brinkman 26% 1-year accuracy 9 / 34 met price target	37%upside $55	Overweight Maintained	6 Aug 2024
Barclays Dan Levy 18% 1-year accuracy 6 / 34 met price target	25%upside $50	Equal-Weight Maintained	6 Aug 2024

See Analyst Rankings

Financial journalist opinion

Zacks Investment Research

Here's Why Investors Should Avoid Magna (MGA) Stock Right Now

Magna (MGA) faces headwinds from lower-than-expected vehicle production in Europe, program cancellations and discontinued production of Fisker Ocean.

Here's Why Investors Should Avoid Magna (MGA) Stock Right Now

Zacks Investment Research

Magna (MGA) Shares Fall 7.9% Since Q2 Earnings Miss Estimates

Magna (MGA) reports lower-than-expected second-quarter results and expects 2024 revenues in the band of $42.5-$44.1 billion, down from $42.6-$44.2 billion guided earlier.

Magna (MGA) Shares Fall 7.9% Since Q2 Earnings Miss Estimates

Magna Recommends Rejection of "Mini-Tender" Offer

AURORA, Ontario, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported that it has received notice of an unsolicited mini-tender offer made by TRC Capital Investment Corporation (“TRC Capital”) to purchase up to 2,000,000 Magna Common Shares, or less than 1% of Magna's outstanding Common Shares, at a price of CDN $57.90 per share. Magna cautions shareholders that the mini-tender offer has been made at a price below recent market prices, representing a discount of 4.49% to the closing price of Magna's Common Shares on the Toronto Stock Exchange (“TSX”) on July 29, 2024, the last trading day before the mini-tender offer commenced. Although the offering price represents a premium of 7.58% to yesterday's closing price of Magna Common Shares on the TSX of CDN $53.82, the offer is highly conditional. TRC Capital's offer states that it may withdraw its offer if, among other things, the market price of Magna Common Shares falls below CDN $57.58, for reference, the closing price on the TSX for Magna Common Shares on August 8, 2024, was CDN $53.82, which is already below this threshold; additionally, TRC Capital's offer is not fully funded and is conditioned upon receipt of necessary financing on terms it deems reasonable in its sole discretion.

Magna Recommends Rejection of "Mini-Tender" Offer

Magna International: No Rush To Start A Position

Magna International Inc. reported Q2 earnings with flat sales, missed EPS, and lower EBIT compared to the previous year. The company attributed lackluster performance to the global automotive slump, especially in Europe, leading to downward revisions in the 2024 and 2026 outlook. Market demand for vehicles, slow adoption of EVs, and overall weakness worldwide pose challenges for Magna International, keeping me cautious about starting a position.

Magna International: No Rush To Start A Position

Magna International (MGA) Q2 2024 Earnings Call Transcript

Magna International Inc. (NYSE:MGA ) Q2 2024 Earnings Conference Call August 2, 2024 8:00 AM ET Company Participants Swamy Kotagiri - Chief Executive Officer Patrick McCann - Executive Vice President, Chief Financial Officer Louis Tonelli - Vice President, Investor Relations Conference Call Participants John Murphy - Bank of America Adam Jonas - Morgan Stanley Tamy Chen - BMO Capital Markets Dan Levy - Barclays James Picariello - BNP Paribas Mark Delaney - Goldman Sachs Itay Michaeli - Citi Brian Morrison - TD Cowen Joseph Spak - UBS Securities Colin Langan - Wells Fargo Operator Good morning and welcome to the Magna International Inc. second quarter 2024 results webcast call. All lines have been placed on mute to prevent any background noise.

Magna International (MGA) Q2 2024 Earnings Call Transcript

Zacks Investment Research

Magna (MGA) Reports Q2 Earnings: What Key Metrics Have to Say

Although the revenue and EPS for Magna (MGA) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Magna (MGA) Reports Q2 Earnings: What Key Metrics Have to Say

Zacks Investment Research

Magna (MGA) Q2 Earnings and Revenues Lag Estimates

Magna (MGA) came out with quarterly earnings of $1.35 per share, missing the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.50 per share a year ago.

Magna (MGA) Q2 Earnings and Revenues Lag Estimates

Auto parts supplier Magna's quarterly results miss on fewer vehicle assemblies

Canada's Magna International missed analysts' estimates for second-quarter results, hurt by production being stopped for certain vehicles and lower volumes of automobiles assembled, sending the auto parts supplier's shares down about 2%.

Auto parts supplier Magna's quarterly results miss on fewer vehicle assemblies

Magna Announces Second Quarter 2024 Results

AURORA, Ontario, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX: MG; NYSE: MGA) today reported financial results for the second quarter ended June 30, 2024.

Magna Announces Second Quarter 2024 Results

Zacks Investment Research

Insights Into Magna (MGA) Q2: Wall Street Projections for Key Metrics

Looking beyond Wall Street's top -and-bottom-line estimate forecasts for Magna (MGA), delve into some of its key metrics to gain a deeper insight into the company's potential performance for the quarter ended June 2024.

Insights Into Magna (MGA) Q2: Wall Street Projections for Key Metrics

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