Time to Buy: 3 Stellar Stocks the Market Rally Has Left Behind [Yahoo! Finance Canada]
Magna International, Inc. (MGA)
Last magna international, inc. earnings: 2/21 05:00 am
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US:NYSE Investor Relations:
magna.com/investors
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Source: Yahoo! Finance Canada
Despite the volatile environment, the S&P/TSX Composite Index is up around 4% this year and trades just 3.4% lower from its 52-week high. However, few companies have failed to participate in this rally. Of these companies, I believe the following three stocks offer attractive buying opportunities, given their growth prospects and discounted stock prices. Magna International Magna International TSX:MG ) has been under pressure over the last few years amid supply chain concerns and weakness in the EV (electric vehicle) segment. It has lost over 50% of its stock value compared to its 2021 highs. However, I believe the selloff is overdone, with its NTM (next 12-month) price-to-earnings multiple declining to 6.3. ADVERTISEMENT Despite the near-term weakness, the EV segment offers excellent long-term growth potential. Precedence Research projects the global EV market to grow at an annualized rate of 23.4% from 2024 to 2033. Given its expertise and continued investment in powertrain
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MGA
News
- Magna International Inc. (NYSE: MGA) was upgraded by analysts at BNP Paribas from a "neutral" rating to an "outperform" rating.MarketBeat
- Court document alleges seven complainants in latest charges against Magna founder Frank Stronach [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- I had sex with Frank Stronach when I was 19. I've wrestled with its meaning ever since [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- 2 REITs on My Radar as Interest Rates Drop [Yahoo! Finance Canada]Yahoo! Finance Canada
- Magna International Inc. (NYSE: MGA) had its price target lowered by analysts at Wells Fargo & Company from $49.00 to $46.00. They now have an "equal weight" rating on the stock.MarketBeat
MGA
Earnings
- 5/3/24 - Miss
MGA
Sec Filings
- 6/27/24 - Form 11-K
- 6/5/24 - Form SD
- 5/30/24 - Form 6-K
- MGA's page on the SEC website