Here's Why Investors Should Avoid Magna (MGA) Stock Right Now [Yahoo! Finance]
Magna International, Inc. (MGA)
Last magna international, inc. earnings: 2/21 05:00 am
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Source: Yahoo! Finance
production of Fisker Ocean and hefty investment in technologically advanced products. Let's find out why this Zacks Rank #4 (Sell) stock should be avoided. Magna has made a downward revision in its 2024 & 2026 sales and adjusted EBIT margin outlook. Lower-than-anticipated vehicle production in Europe and ceased production of the Fisker Ocean are expected to act as headwinds in 2024, while the cancellation of the Ineos program and pass-through sales of the Mercedes G-class are expected to act as headwinds in 2026. It now expects full-year 2024 revenues in the band of $42.5-$44.1 billion, down from the previous guidance of $42.6-$44.2 billion. Adjusted EBIT margin in 2024 is now expected in the range of 5.4-5.8%, down from the previous estimate of 5.4-6.0%. It now expects 2026 sales in the range of $44-$46.5 billion, down from the previous estimate of $48.8-$51.2 billion. It expects 2026 adjusted EBIT margin in the range of 6.7-7.4%, down from the previous guidance of 7-7.7%. Rising
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MGA
News
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MGA
Earnings
- 8/2/24 - Miss
MGA
Sec Filings
- 8/9/24 - Form 6-K
- 8/2/24 - Form 6-K
- 8/2/24 - Form 6-K
- MGA's page on the SEC website