Magna International (TSX:MG) Sees Strong Q2 Sales and Strategic Cost Management, Signals Potential Growth [Yahoo! Finance]
Magna International, Inc. (MGA)
Last magna international, inc. earnings: 2/21 05:00 am
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Source: Yahoo! Finance
Strengths: Core Advantages Driving Sustained Success For Magna International Magna International has demonstrated strong sales and margin performance, with Q2 sales reaching $11 billion and an adjusted EBIT margin of 5.3%, as highlighted by CEO Swamy Kotagiri. The company's operational excellence initiatives are on track to contribute approximately 75 basis points to margin expansion during 2024 and 2025. Additionally, Magna's strategic cost management efforts have led to further reductions in expected CapEx by $100 million, totaling up to $200 million for 2024. The company is also maintaining a solid cash flow outlook, with a range of $600 million to $800 million. Notably, Magna's acquisition of HE Systems for $52 million is expected to accelerate the development of power modules, enhancing its product offerings. Furthermore, the company is currently trading at CA$56.96, which is significantly below its estimated fair value of CA$334.08, indicating potential undervaluation. Weak
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MGA
News
- The Best Stocks to Invest $500 in Right Now [Yahoo! Finance Canada]Yahoo! Finance Canada
- Magna International Inc. (NYSE: MGA) was downgraded by analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating. They now have a $43.00 price target on the stock, down previously from $55.00.MarketBeat
- Magna International Inc. (NYSE: MGA) had its price target raised by analysts at Wells Fargo & Company from $43.00 to $44.00. They now have an "equal weight" rating on the stock.MarketBeat
- What Does Magna International Inc.'s (TSE:MG) Share Price Indicate? [Yahoo! Finance]Yahoo! Finance
- Electric Powertrain Market is expected to generate a revenue of USD 211.7 Billion by 2031, Globally, at 13.20% CAGR: Verified Market Research® [Yahoo! Finance]Yahoo! Finance
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