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MGA - Magna International: This 3.9%-Yielding Stock Should Have Enough Liquidity To Weather The Storm
Magna International Inc.
Investment Thesis
Magna International (MGA) is facing significantly uncertainties due to the outbreak of COVID-19. Although many of its manufacturing facilities have returned to fully operational or are gradually restarting, its 2020 sales may be impacted negatively due to weak demand. Fortunately, Magna has a strong balance sheet with enough liquidity to go through this stormy environment. Magna is currently attractively valued and pays a 3.9%-yielding dividend. We think this is a stock that is suitable for investors willing to ride out some short-term volatilities.