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Summary Magna International Inc. missed earnings estimates even though revenues came in strong. Guidance for the year ahead was lowered substantially versus consensus. We look at what went wrong and tell you how we see this story playing out. When we last covered Magna...
Magna International Inc. (MGA) Q4 2022 Results Conference Call February 10, 2023 08:00 AM ET Company Participants Louis Tonelli - Vice President, Investor Relations Swamy Kotagiri - Chief Executive Officer Pat McCann - Executive Vice President & Chief Financial Off...
The S&P 500 slid Friday after a batch of disappointing quarterly reports, as Wall Street heads for a losing weekly performance. The Dow Jones Industrials moved forward 89.55 points to kick off the week's last session at 33,789.43. The much-broader index eked up 1.39 points to 4,082.89...
Magna International ( NYSE: MGA ) stock slipped on Friday after falling short of profit expectations for the fourth quarter. The Canadian manufacturer notched $0.91 in earnings per share for the quarter, below the $1.08 consensus estimate. On a GAAP basis, earnings per share f...
Fourth Quarter 2022 Highlights Sales increased 5% to $9.6 billion Excluding foreign currency translation sales increased 13%, compared to a global light vehicle production increase of 5% Diluted earnings per share and Adjusted diluted earnings per share decreased to $0.33 and $0.9...
Magna International ( NYSE: MGA ) is scheduled to announce Q4 earnings results on Friday, February 10th, before market open. The consensus EPS Estimate is $1.08 (-16.9% Y/Y) and the consensus Revenue Estimate is $9.51B (+4.5% Y/Y). Over the last 2 years, MGA has beaten EPS e...
There are many companies that have gotten over the hurdle of supply-chain disruptions. Yet Magna International ( TSX:MG ) is not yet one of them. Magna stock continues to find it difficult to get supply up to demand, and it’s caused the stock to remain far below the TSX today. ...
Consumer discretionary stocks don’t usually do well during recessions. Economists think we are going to experience a shallow recession in the first half of 2023. This could mean a potential buying opportunity in consumer discretionary stocks that appear to trade at decent valuations. Stock...
Though we may have entered a recession year, year-to-date gains suggest the bull may be back in the driver’s seat. Undoubtedly, many of us have forgotten what a bull market feels like. Buying the dip used to be a go-to strategy, rather than a trap that accompanies quick losses. Though it...
Even though more and more nations are putting measures in place to combat climate change, electric vehicles (EVs) are just now beginning to gain popularity among consumers. Only about 5% of U.S. auto sales, for instance, were EVs as of the middle of 2022. To effectively combat climate change,...
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2024-07-26 16:50:00 ET In the short term, many factors, including market volatility or economic fluctuations, might affect the performance of even the most fundamentally sound TSX stocks. However, a long-term investment focus on solid dividend-paying stocks in Canada could be a wise...
2024-07-25 20:15:00 ET Magna International ( TSX:MG ) is a prominent player in the global automotive industry, known for its diversified product portfolio that includes ADAS, powertrain technologies, and various automotive systems. And yet, shares of Magna stock are down 27% in the ...
2024-07-25 16:20:00 ET The TSX has seen significant volatility in 2024, with some stocks underperforming despite broader market gains. Among the worst performers lately are First Quantum Minerals ( TSX:FM ), Magna International ( TSX:MG ), and Canadian Tire Corporation...