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Magna International (NYSE:MGA) 株価情報, 空売り情報

Magna International

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.

Magna International Inc

MORINAGA & CO LTD ORD by Morinaga & Co., Ltd.

Morinaga & Co Ltd

MEGA URANIUM LTD ORD by Mega Uranium Ltd.

Mega Uranium Ltd

Mortgage Oil Corp

MOBILE GLOBAL ESPORTS INC by Mobile Global Esports Inc.

Mobile Global Esports Inc

Megaworld Corp

MEGAWORLD CORP UNSP/ADR by Megaworld Corp.

News

Buybacks

Magna International Launches New 10% Stock Repurchase Program With Automatic Share Purchase Plan, Terminating Prior Buyback

UBS analyst Joseph Spak maintains Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) with a Neutral and raises the price target from $44 to $45.

Price Target

Analyst Ratings

UBS Maintains Neutral on Magna International, Raises Price Target to $45

Scotiabank analyst Jonathan Goldman maintains Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) with a Sector Perform and raises the price target from $50 to $52.

Scotiabank Maintains Sector Perform on Magna International, Raises Price Target to $52

RBC Capital analyst Tom Narayan maintains Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) with a Sector Perform and lowers the price target from $42 to $41.

RBC Capital Maintains Sector Perform on Magna International, Lowers Price Target to $41

Wells Fargo analyst Colin Langan maintains Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) with a Equal-Weight and raises the price target from $44 to $46.

Wells Fargo Maintains Equal-Weight on Magna International, Raises Price Target to $46

U.S. stocks were higher, with the Dow Jones index gaining around 450 points on Friday.
Shares of Amazon.com, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) rose sharply during Friday's session as the company posted stronger-than-expected results for the <a href="https://www.benzinga.com/quote/AMZN">third quarter on Thursday</a>.
Amazon reported third-quarter net sales of $158.9 billion, up 11% year-over-year. The total beat a Street consensus estimate of $157.2 billion, according to data from Benzinga Pro. The company said it sees fourth-quarter net sales to come in a range of $181.5 billion to $188.5 billion, up 7% to 11% year-over-year.
Amazon.com shares jumped 7.1% to $199.63 on Friday.
Here are some other big stocks recording gains in today's session.
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<li>Proto Labs, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRLB#NYSE">PRLB</a>) shares jumped 31.8% to $36.10 after the company reported better-than-expected third-quarter financial results and issued fourth-quarter adjusted EPS guidance with its midpoint above estimates.</li>
<li>Interface, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TILE#NASDAQ">TILE</a>) gained 30% to $22.72 after the company reported better-than-expected third-quarter financial results and raised its FY24 net sales guidance above estimates.</li>
<li>Globalstar, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GSAT#NYSE">GSAT</a>) jumped 25.3% to $1.3145 after the company amended its services agreement with Apple to launch an extended MSS network with new satellites and infrastructure.</li>
<li>ADMA Biologics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADMA#NASDAQ">ADMA</a>) gained 19.7% to $19.52.</li>
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<li>Avis Budget Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CAR#NASDAQ">CAR</a>) gained 16.5% to $96.73 following third-quarter results.</li>
<li>Atlassian Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEAM#NASDAQ">TEAM</a>) climbed 15.8% to $218.37 after the company reported better-than-expected first-quarter financial results and issued second-quarter revenue guidance above estimates.</li>
<li>Pediatrix Medical Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MD#NYSE">MD</a>) rose 15.6% to $14.26 following better-than-expected quarterly earnings.</li>
<li>ASP Isotopes Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASPI#NASDAQ">ASPI</a>) gained 14.2% to $7.98. ASP Isotopes announced the pricing of public offering of common stock.</li>
<li>Select Medical Holdings Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEM#NYSE">SEM</a>) surged 13.2% to $36.32 following better-than-expected quarterly earnings.</li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) gained 12% to $366.93 after the company reported better-than-expected quarterly EPS and revenues.</li>
<li>Liberty Broadband Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBRDA#NASDAQ">LBRDA</a>) gained 11.5% to $89.49.</li>
<li>Halozyme Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HALO#NASDAQ">HALO</a>) gained 9.9% to $55.56 after the company reported better-than-expected quarterly financial results and issued FY24 adjusted EPS guidance above estimates.</li>
<li>Mobileye Global Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) rose 9.6% to $14.92.</li>
<li>MasTec, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) surged 8.2% to $133.01 after the company raised its FY2024 adjusted EPS guidance.</li>
<li>Chart Industries, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GTLS#NASDAQ">GTLS</a>) gained 8.1% to $130.46 following quarterly results.</li>
<li>Dorman Products, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DORM#NASDAQ">DORM</a>) gained 7.9% to $123.05 following upbeat earnings.</li>
<li>Magna International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) jumped 7.8% to $42.54 following third-quarter results.</li>
<li>Cardinal Health, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAH#NYSE">CAH</a>) gained 7.1% to $116.21 after the company reported better-than-expected first-quarter EPS and revenues and raised its FY2025 adjusted EPS guidance.</li>
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Intraday Update

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Amazon Posts Upbeat Results, Joins Cardinal Health, Waters, Atlassian, Charter Communications, MasTec And Other Big Stocks Moving Higher On Friday

Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) shares are trading<a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/g41677587/magna-announces-third-quarter-2024-results" rel="noreferrer noopener"> higher in the premarket session on Friday.</a>
The company reported that the third quarter adjusted earnings per share was $1.28, missing the street view of $1.41. Quarterly sales of $10.28 billion (down 4%) <a href="https://www.benzinga.com/earnings">missed the analyst consensus estimate of $10.363 billion.</a>
The decline in sales is primarily attributed to a 4% reduction in global light vehicle production. This includes a 6% drop in production in both North America and China, along with a 2% decrease in Europe.
&#8220;We continue to mitigate industry headwinds including lower production volumes in each of our core regions,&#8221; said Swamy Kotagiri, Magna&#8217;s Chief Executive Officer.
&#8220;As we continuously seek to optimize value creation, we are resuming share repurchases in the fourth quarter &#8211; ahead of our prior plan,&#8221; Kotagiri added.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/11/41680446/us-stocks-likely-to-open-higher-after-mag-7-wrap-up-busy-week-apple-amazon-and-intel-on-radar-inves" rel="noreferrer noopener">US Stocks Likely To Open Higher After &#8216;Mag 7&#8217; Wrap Up Busy Week, Apple, Amazon And Intel On Radar: Investors Eye Monthly Jobs Report, Economist Says Earnings Won&#8217;t Trump Bonds</a>
Adjusted EBIT decreased to $594 million, compared to $615 million in the year-ago period, reflecting reduced earnings on lower sales, higher production input costs net of customer recoveries, and lower equity income.
Sales were also affected by the end of some production programs and divestitures, though these were somewhat offset by new program launches and price increases to cover higher production costs.
The company declared a third-quarter dividend of $0.475 per common share, payable on November 29, to shareholders of record as of the close of business on November 15.
Outlook: Magna International has revised its FY24 sales outlook to a range of $42.2 billion to $43.2 billion, down from the previous outlook of $42.5 billion to $44.1 billion, while the <a href="https://www.benzinga.com/calendars/guidance">current market estimate stands at $42.79 billion.</a>
The adjusted net income outlook is now set at $1.45 billion to $1.55 billion, a decrease from the previous range of $1.5 billion to $1.7 billion.
Price Action: MGA shares are trading higher by 7.30% to $42.35 premarket at last check Friday.
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Earnings

Equities

General

Magna International Misses On Q3 Earnings, Plans To Resume Buybacks From Q4

WIIM

Magna International shares are trading higher. The company reported Q3 financial results.

2024 OUTLOOK
We first disclose a full-year Outlook annually in February, with quarterly updates. The following Outlook is an update to our previous Outlook in August 2024.
Updated 2024 Outlook Assumptions
<figure class="table"> 
<table>
<tbody>
<tr>
<td>Current</td>
<td>Previous</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Light Vehicle Production (millions of units) &nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>North America</td>
<td>15.4</td>
<td>15.7</td>
</tr>
<tr>
<td>Europe</td>
<td>16.9</td>
<td>17.1</td>
</tr>
<tr>
<td>China</td>
<td>28.9</td>
<td>29.0</td>
</tr>
<tr>
<td>Average Foreign exchange rates: 1 Canadian dollar equals 1 euro equals</td>
<td> U.S. $0.736 U.S. $1.088</td>
<td> U.S. $0.733 U.S. $1.080</td>
</tr>
</tbody>
</table>
</figure>
 Updated 2024 Outlook
<figure class="table"> 
<table>
<tbody>
<tr>
<td>Current</td>
<td>Previous</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Segment Sales &nbsp;</td>
<td>&nbsp;</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Body Exteriors &amp; Structures</td>
<td>$16.8 - $17.2 billion</td>
<td>$17.3 - $17.9 billion</td>
</tr>
<tr>
<td>Power &amp; Vision</td>
<td>$15.1 - $15.4 billion</td>
<td>$15.3 - $15.7 billion</td>
</tr>
<tr>
<td>Seating Systems</td>
<td>$5.6 - $5.8 billion</td>
<td>$5.5 - $5.8 billion</td>
</tr>
<tr>
<td>Complete Vehicles</td>
<td>$5.2 - $5.4 billion</td>
<td>$4.9 - $5.2 billion&nbsp;&nbsp;</td>
</tr>
<tr>
<td>Total Sales</td>
<td>$42.2 - $43.2 billion</td>
<td>$42.5 - $44.1 billion</td>
</tr>
<tr>
<td>Adjusted EBIT Margin(3)</td>
<td>5.4% - 5.5%</td>
<td>5.4% - 5.8%</td>
</tr>
<tr>
<td>Equity Income (included in EBIT)</td>
<td>$80 - $105 million</td>
<td>$100 - $130 million</td>
</tr>
<tr>
<td>Interest Expense, net</td>
<td>Approximately $220 million</td>
<td>Approximately $220 million</td>
</tr>
<tr>
<td>Income Tax Rate(4)</td>
<td>Approximately 23%</td>
<td>Approximately 22%</td>
</tr>
<tr>
<td>Adjusted Net Income attributable to Magna(5)</td>
<td>$1.45 - $1.55 billion</td>
<td>$1.5 - $1.7 billion</td>
</tr>
<tr>
<td>Capital Spending</td>
<td>$2.2 - $2.3 billion</td>
<td>$2.3 - $2.4 billion</td>
</tr>
</tbody>
</table>
</figure>

Guidance

Magna International FY24 Outlook: Revised Sales Outlook At $42.2B-$43.2B (Prior $42.5B-$44.1B) Vs $42.79B Est, Adj. Net Income At $1.45B-$1.55B (Prior $1.5B-$1.7B)

Earnings Misses

Magna International Q3 2024 Adj. EPS $1.28 Misses $1.41 Estimate, Sales $10.280B Miss $10.363B Estimate

Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) is preparing to release its quarterly earnings on Friday, 2024-11-01. Here's a brief overview of what investors should keep in mind before the announcement.
Analysts expect Magna International to report an earnings per share (EPS) of $1.43.
The announcement from Magna International is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings History Snapshot</h3>
The company's EPS missed by $0.09 in the last quarter, leading to a 0.0% drop in the share price on the following day.
Here's a look at Magna International's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.44</td>
<td>1.25</td>
<td>1.48</td>
<td>1.34</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.35</td>
<td>1.08</td>
<td>1.33</td>
<td>1.46</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-6.0%</td>
<td>-4.0%</td>
<td>-7.000000000000001%</td>
<td>9.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730383287_0.png" alt="eps graph" />
<h3>Magna International Share Price Analysis</h3>
Shares of Magna International were trading at $41.31 as of October 30. Over the last 52-week period, shares are down 24.91%. Given that these returns are generally negative, long-term shareholders are likely bearish going into this earnings release. 
<a href="https://www.benzinga.com/quote/MGA/earnings">To track all earnings releases for Magna International visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Exploring Magna International's Earnings Expectations

LAZR

Shares of auto component companies are trading lower. The sector may be moving amid possible sympathy with Ford Motor, which fell after reporting Q3 earnings and issued FY24 guidance.

Goldman Sachs analyst Mark Delaney maintains Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) with a Neutral and lowers the price target from $44 to $41.

Goldman Sachs Maintains Neutral on Magna International, Lowers Price Target to $41

ADNT

Shares of auto supplier stocks are trading lower following weak guidance from Stellantis, which could be causing concern for the sector.

Magna International shares are trading lower after Morgan Stanley downgraded the stock from Overweight to Equal-Weight and cut its price target from $55 to $43.

Morgan Stanley analyst Adam Jonas downgrades Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) from Overweight to Equal-Weight and lowers the price target from $55 to $43.

Downgrades

Morgan Stanley Downgrades Magna International to Equal-Weight, Lowers Price Target to $43

Wells Fargo analyst Colin Langan maintains Magna International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>) with a Equal-Weight and raises the price target from $43 to $44.

Wells Fargo Maintains Equal-Weight on Magna International, Raises Price Target to $44

APTV

CVNA

KXIN

SYPR

Shares of auto-related stocks are trading higher amid overall market strength following Fed Chair Powell's comments about the economy and future rate cuts.

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) decided this week <a href="https://www.benzinga.com/top-stories/24/08/40496864/ford-scraps-electric-suv-as-it-adjusts-to-lower-electric-vehicle-demand">to abandon production</a> of a fully electric sport-utility vehicle, but it is not the only car manufacturer lessening its ambitions for electric vehicles.
On Wednesday, the auto giant said it was doing away with plans for a large electric SUV and it would take a $1.9 billion write-down on the move as it adjusts to lower-than-expected demand for EVs.
 The Dearborn, Michigan-based company plans to instead make hybrid gas-electric versions of three-row SUVs for models that include Explorer and Expedition, the Wall Street Journal&nbsp;<a href="https://www.wsj.com/business/autos/ford-cancels-plans-for-electric-suv-44817367?mod=hp_lead_pos1" target="_blank" rel="noreferrer noopener">reported</a>.
Ford also held off on launching a new electric pickup truck by a year, until 2027, and said it would reduce capital expenditures on EVs to about 30% of its budget.
Ford&#8217;s decisions to pull back on EVs has impacted Magna International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGA#NYSE">MGA</a>), a major auto-parts supplier that was getting ready to make battery trays, seats and other parts for Ford's now-scrapped electric SUV.
Read Also: <a href="http://Ford Patents Innovative Technology To Detect Speeding Drivers (Updated)">Ford Patents Innovative Technology To Detect Speeding Drivers (Updated)</a>
In late July, General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) announced pushing back plans for a new Buick electric vehicle and delaying the opening of an EV truck factory,
GM Chief Executive&nbsp;Mary Barra&nbsp;said in a call with analysts that GM is holding back on investments to make sure the company does not overshoot demand.
On Tuesday, Stellantis NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) said it will delay planned investments in reopening an assembly plant in Belvidere, Illinois, much to the ire of United Auto Workers members, Reuters reported.
 Stellantis agreed to build a new $3.2 billion EV battery plant, invest $1.5 billion in Belvidere to build new mid-size trucks by 2027 and a $100 million parts distribution center in 2024. 
The UAW said it planned to file grievances over the delay and may hold a nationwide strike on the grounds Stellantis failed to honor production commitments.
Stellantis declined to disclose any new timetable for reopening the factory on Tuesday.
In July, the U.S. Department of Energy said it planned to award Stellantis $334.8 million to convert the shuttered Belvidere plant to build electric vehicles and $250 million to convert its Indiana Transmission Plant in Kokomo, Indiana, to produce EV components.
 Price Action: Ford saw a modest gain on Thursday, but other automakers pulling back on EVs and companies that produce automobile parts fell by the closing bell.
<ul>
<li>Ford gained 0.65% to $10.92</li>
<li>General Motors slipped 0.21% to $46.46</li>
<li>Stellantis declined 1.57% to $16.30</li>
<li>Magna International dropped 0.85% to $41.05</li>
</ul>
Read Now: 
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<li><a href="https://www.benzinga.com/news/24/03/37975750/former-ford-ceo-sees-a-bright-electric-future-for-established-automakers-says-they-are-well-position">Former Ford CEO Sees A Bright Electric Future For Established Automakers, Says They Are &#8216;Well Positioned To Ride Out The Transition&#8217;</a></li>
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Photo: Shutterstock

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Shares of auto and auto-related stocks are trading higher following a rise in July auto sales.

Scotiabank raised the firm's price target on Magna (MGA) to $52 from $50 and keeps a Sector Perform rating on the shares. The return to the "classi...

Magna price target raised to $52 from $50 at Scotiabank

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Magna price target lowered to $41 from $42 at RBC Capital

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Magna International (MGA) Receives a Hold from Barclays

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