Magna International Inc. designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles. Its Body Exteriors & Structures segment provides body and chassis systems, as well as engineering and testing services; exterior systems, including fascia and trims, front end modules, front integration panels, liftgate modules, active aerodynamics, engineered glass, running boards, truck bed access products, and side doors; and roof systems, such as modular and textile folding roofs, and hard and soft tops. The company's Power & Vision segment offers dedicated hybrid, dual and e-clutch, and manual transmissions; engine drive plates and accessories; AWD/4WD products, rear drive modules, and hybrid and battery electric drive systems; transmission, engine, and driveline components; advanced driver assistance systems, camera systems, ultrasonic sensors, and electronic controllers; interior and exterior mirrors, actuators, door handles, overhead consoles, and camera monitoring systems; head, tail, and fog lamps; signal and other lighting products; and latching systems, door modules, window systems, power closure systems, hinges and wire forming, and handle assemblies. Its Seating Systems segment provides seat structures, mechanism and hardware solutions, and foam and trim products. The company's Complete Vehicles segment offers vehicle manufacturing and engineering services. It also designs, engineers, and manufactures tooling products. Magna International Inc. was founded in 1957 and is headquartered in Aurora, Canada.
IPO Year:
Exchange: NYSE
Website: magna.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 9/25/2024 | $55.00 → $43.00 | Overweight → Equal-Weight | Morgan Stanley |
| 9/5/2024 | Peer Perform → Underperform | Wolfe Research | |
| 7/1/2024 | Neutral → Outperform | Exane BNP Paribas | |
| 1/3/2024 | $73.00 → $58.00 | Buy → Neutral | Goldman |
| 9/13/2023 | $63.00 | Neutral | UBS |
| 8/24/2023 | $61.00 | Sector Perform | Scotiabank |
| 7/6/2023 | $65.00 → $85.00 | Neutral → Buy | BofA Securities |
| 5/8/2023 | Underperform → Neutral | Exane BNP Paribas | |
| 4/19/2023 | $58.00 → $52.00 | Outperform → Sector Perform | RBC Capital Mkts |
| 2/15/2023 | $60.00 | Equal Weight | Barclays |
SC 13G/A - MAGNA INTERNATIONAL INC (0000749098) (Subject)
SC 13G - MAGNA INTERNATIONAL INC (0000749098) (Filed by)
SC 13G/A - MAGNA INTERNATIONAL INC (0000749098) (Subject)
B of A Securities analyst John Murphy maintains Magna International (NYSE:MGA) with a Buy and lowers the price target from $65 to $62.
JP Morgan analyst Ryan Brinkman maintains Magna International (NYSE:MGA) with a Overweight and lowers the price target from $69 to $63.
Barclays analyst Dan Levy maintains Magna International (NYSE:MGA) with a Equal-Weight and lowers the price target from $60 to $55.
Evercore ISI Group analyst Chris McNally maintains Magna International (NYSE:MGA) with a In-Line and lowers the price target from $60 to $50.
Citigroup analyst Itay Michaeli maintains Magna International (NYSE:MGA) with a Neutral and lowers the price target from $52 to $47.
UBS analyst Joseph Spak maintains Magna International (NYSE:MGA) with a Neutral and lowers the price target from $51 to $46.
Exane BNP Paribas analyst James Picariello upgrades Magna International (NYSE:MGA) from Neutral to Outperform.
Wells Fargo analyst Colin Langan maintains Magna International (NYSE:MGA) with a Equal-Weight and lowers the price target from $49 to $46.
Morgan Stanley analyst Adam Jonas maintains Magna International (NYSE:MGA) with a Overweight and lowers the price target from $65 to $60.
6-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
6-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
6-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
6-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
6-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
6-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
11-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
SD - MAGNA INTERNATIONAL INC (0000749098) (Filer)
6-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
6-K - MAGNA INTERNATIONAL INC (0000749098) (Filer)
Morgan Stanley downgraded Magna from Overweight to Equal-Weight and set a new price target of $43.00 from $55.00 previously
Wolfe Research downgraded Magna from Peer Perform to Underperform
Exane BNP Paribas upgraded Magna from Neutral to Outperform
Goldman downgraded Magna from Buy to Neutral and set a new price target of $58.00 from $73.00 previously
UBS initiated coverage of Magna with a rating of Neutral and set a new price target of $63.00
Scotiabank resumed coverage of Magna with a rating of Sector Perform and set a new price target of $61.00
BofA Securities upgraded Magna from Neutral to Buy and set a new price target of $85.00 from $65.00 previously
Exane BNP Paribas upgraded Magna from Underperform to Neutral
RBC Capital Mkts downgraded Magna from Outperform to Sector Perform and set a new price target of $52.00 from $58.00 previously
Barclays initiated coverage of Magna with a rating of Equal Weight and set a new price target of $60.00
Dedicated hybrid drive system brings high performance and sustainability to leading Chinese OEMNew 800V solution ensures a smooth and comfortable experience in all driving conditionsScalable DHD Duo design integrates seamlessly across various vehicle models, enhancing energy efficiency and driving versatility AURORA, Ontario, Nov. 19, 2024 (GLOBE NEWSWIRE) -- As OEMs increasingly prioritize hybrid solutions globally within their broader electrification strategies, Magna has secured its first award for a Dedicated Hybrid Drive (DHD) Duo system with a leading Chinese OEM. This recognition underscores Magna's commitment to innovation and sustainability, as well as the company's flexi
AURORA, Ontario, Nov. 05, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today announced the termination of its existing Normal Course Issuer Bid effective since February 15, 2024 (the "Prior NCIB") and the Toronto Stock Exchange ("TSX") has accepted its Notice of Intention to establish a new Normal Course Issuer Bid (the "Notice"). Pursuant to the Notice, Magna may purchase up to 28,500,000 Magna Common Shares (the "New NCIB"), representing approximately 10% of its public float. As at October 31, 2024, Magna had 287,342,204 issued and outstanding Common Shares, including a public float of 286,960,792 Common Shares. Magna's Prior NCIB announced in February 2024 for t
Sales of $10.3 billion decreased in-line with the 4% reduction in global light vehicle productionDiluted earnings per share were $1.68, up $0.31, largely reflecting recognition of Fisker deferred revenueAdjusted diluted earnings per share were $1.28, down $0.18, including $0.10 due to a higher income tax rateNormal Course Issuer Bid to purchase up to 10% of our public float of Common Shares, with purchases expected to commence in the fourth quarter of 2024 AURORA, Ontario, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today reported financial results for the third quarter ended September 30, 2024. Please click HERE for full third quarter MD&A and Financial
First high-volume contract award for new product supports various vehicle models globally with ICE transmissionsNew modular Dual Clutch Transmission enables seamless hybrid transition on the same vehicle platform with minor changesEfficient and compact design with optimized torque-to-weight ratio results in lower CO² emissions, contributing to a cleaner future AURORA, Ontario, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Magna is accelerating the industry's move toward a cleaner future with the debut of its innovative Dual Clutch Transmission Eco (DCT Eco) solution for a European OEM. This contract marks the first high-volume award for the new transmission family and supports various models
AURORA, Ontario, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) MAGNA INTERNATIONAL INC.THIRD QUARTER 2024 RESULTS WEBCAST FRIDAY – NOVEMBER 1, 20248:00 AM ET LIVE AUDIO WEBCASTWebcast registration: https://events.q4inc.com/attendee/431432937 DIAL IN DETAILS Participant Toll-Free Dial-In: 1-800-715-9871Participant Toll Dial-In: 1-646-307-1963Conference ID: 9829976 Slide presentation will be available on our website Investors | Magna prior to the call REBROADCAST INFORMATIONReplay available 2 hours after the call until November 8, 2024 Toll-Free Dial-In: 1-800-770-2030Toll Dial-In: 1-609-800-9909Conference ID: 9829976 INVESTOR CONTACTLouis Tonelli, V
AURORA, Ontario, Aug. 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today reported that it has received notice of an unsolicited mini-tender offer made by TRC Capital Investment Corporation ("TRC Capital") to purchase up to 2,000,000 Magna Common Shares, or less than 1% of Magna's outstanding Common Shares, at a price of CDN $57.90 per share. Magna cautions shareholders that the mini-tender offer has been made at a price below recent market prices, representing a discount of 4.49% to the closing price of Magna's Common Shares on the Toronto Stock Exchange ("TSX") on July 29, 2024, the last trading day before the mini-tender offer commenced. Although the offering
Sales of $11.0 billion were level with Q2, 2023, compared to a 2% increase in global light vehicle productionDiluted earnings per share and Adjusted diluted earnings per share were $1.09 and $1.35, respectivelyPaid dividends of $134 million2024 outlook for Total Sales largely unchanged, Adjusted EBIT Margin range narrowed to 5.4% to 5.8% AURORA, Ontario, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today reported financial results for the second quarter ended June 30, 2024. Please click HERE for full second quarter MD&A and Financial Statements. THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2024 2023 2024 2023Reported Sales
AURORA, Ontario, July 02, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) MAGNA INTERNATIONAL INC. SECOND QUARTER 2024 RESULTS WEBCAST FRIDAY – AUGUST 2, 2024 8:00 AM ET LIVE AUDIO WEBCASTWebcast registration: https://events.q4inc.com/attendee/760182349 DIAL IN DETAILS Participant Toll-Free Dial-In: 1-800-715-9871Participant Toll Dial-In: 1-646-307-1963Conference ID: 9829976 Slide presentation will be available on our website Investors | Magna prior to the call REBROADCAST INFORMATIONReplay available 2 hours after the call until August 9, 2024 Toll-Free Dial-In: 1-800-770-2030Toll Dial-In: 1-609-800-9909Conference ID: 9829976 INVESTOR CONTACTLouis Tonelli,
Innovative system offers two rows of seats on long rails with a fully rotating front rowFlexible layout for more in-cabin spaceAward showcases local R&D, complete technology development, and production readiness AURORA, Ontario, June 18, 2024 (GLOBE NEWSWIRE) -- For more than 65 years, Magna has helped redefine the very concept of consumer experience and design in the vehicle. Today, the company has further advanced traditional in-cabin vehicle design with its first awarded contract to deliver a reconfigurable seating system to a Chinese OEM. This innovative technology offers fully rotating front seats paired with long rails, enabling a flexible layout for more in-cabin space. Magna'
Experienced Finance Executive to Stand for Election at 2024 Annual Meeting SAN FRANCISCO, June 5, 2024 /PRNewswire/ -- Serve Robotics Inc. (NASDAQ:SERV), a leading autonomous sidewalk delivery company, today announced the nomination of David Goldberg to stand for election to its Board of Directors (the "Board") at Serve's 2024 Annual Meeting of Stockholders. Mr. Goldberg brings over 20 years of experience as a finance executive and strategic advisor across the automotive and mobility, finance, and strategy consulting industries. He most recently served as the Chief Financial Officer of REE Automotive, Ltd. (NASDAQ:REE), an electric vehicle developer and manufacturer. Before joining REE Auto
Sales of $10.3 billion decreased in-line with the 4% reduction in global light vehicle productionDiluted earnings per share were $1.68, up $0.31, largely reflecting recognition of Fisker deferred revenueAdjusted diluted earnings per share were $1.28, down $0.18, including $0.10 due to a higher income tax rateNormal Course Issuer Bid to purchase up to 10% of our public float of Common Shares, with purchases expected to commence in the fourth quarter of 2024 AURORA, Ontario, Nov. 01, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today reported financial results for the third quarter ended September 30, 2024. Please click HERE for full third quarter MD&A and Financial
AURORA, Ontario, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) MAGNA INTERNATIONAL INC.THIRD QUARTER 2024 RESULTS WEBCAST FRIDAY – NOVEMBER 1, 20248:00 AM ET LIVE AUDIO WEBCASTWebcast registration: https://events.q4inc.com/attendee/431432937 DIAL IN DETAILS Participant Toll-Free Dial-In: 1-800-715-9871Participant Toll Dial-In: 1-646-307-1963Conference ID: 9829976 Slide presentation will be available on our website Investors | Magna prior to the call REBROADCAST INFORMATIONReplay available 2 hours after the call until November 8, 2024 Toll-Free Dial-In: 1-800-770-2030Toll Dial-In: 1-609-800-9909Conference ID: 9829976 INVESTOR CONTACTLouis Tonelli, V
Sales of $11.0 billion were level with Q2, 2023, compared to a 2% increase in global light vehicle productionDiluted earnings per share and Adjusted diluted earnings per share were $1.09 and $1.35, respectivelyPaid dividends of $134 million2024 outlook for Total Sales largely unchanged, Adjusted EBIT Margin range narrowed to 5.4% to 5.8% AURORA, Ontario, Aug. 02, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today reported financial results for the second quarter ended June 30, 2024. Please click HERE for full second quarter MD&A and Financial Statements. THREE MONTHS ENDED JUNE 30, SIX MONTHS ENDED JUNE 30, 2024 2023 2024 2023Reported Sales
AURORA, Ontario, July 02, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) MAGNA INTERNATIONAL INC. SECOND QUARTER 2024 RESULTS WEBCAST FRIDAY – AUGUST 2, 2024 8:00 AM ET LIVE AUDIO WEBCASTWebcast registration: https://events.q4inc.com/attendee/760182349 DIAL IN DETAILS Participant Toll-Free Dial-In: 1-800-715-9871Participant Toll Dial-In: 1-646-307-1963Conference ID: 9829976 Slide presentation will be available on our website Investors | Magna prior to the call REBROADCAST INFORMATIONReplay available 2 hours after the call until August 9, 2024 Toll-Free Dial-In: 1-800-770-2030Toll Dial-In: 1-609-800-9909Conference ID: 9829976 INVESTOR CONTACTLouis Tonelli,
Sales increased 3% to $11.0 billion, compared to a 2% rise in global light vehicle productionDiluted earnings per share and Adjusted diluted earnings per share were $0.03 and $1.08, respectivelyRecorded asset impairments and restructuring totaling $316 million related to FiskerPaid dividends of $134 millionMaintaining 2024 Adjusted EBIT Margin Outlook range of 5.4%-6.0% AURORA, Ontario, May 03, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today reported financial results for the first quarter ended March 31, 2024. Please click HERE for full first quarter MD&A and Financial Statements. THREE MONTHS ENDED March 31, 2024 March 31, 2023Reported Sales $10,
AURORA, Ontario, April 15, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) MAGNA INTERNATIONAL INC.FIRST QUARTER 2024 RESULTS WEBCAST FRIDAY – MAY 3, 20248:00 AM ET LIVE AUDIO WEBCASTWebcast registration: https://events.q4inc.com/attendee/510210737 DIAL IN DETAILSParticipant Toll-Free Dial-In:Participant Toll Dial-In:Conference ID: 1-800-715-98711-646-307-19639829976Slide presentation will be available on our website Investors | Magna prior to the call REBROADCAST INFORMATIONReplay available 2 hours after the call until May 10, 2024Toll-Free Dial-In:Toll Dial-In:Conference ID: 1-800-770-20301-609-800-99099829976 INVESTOR CONTACTLouis Tonelli, Vice-Pres
In a release issued under the same headline on Friday, February 9th by Magna International Inc. (TSX:MG, NYSE:MGA), please note that some of the information in the Consolidated Statements of Cash Flows and Supplemental Data tables has been updated. The corrected release follows: Fourth Quarter 2023 Highlights Sales increased 9% to $10.5 billion, compared to 7% increase in global light vehicle productionSales increased 4% excluding foreign currency translation and acquisitions net of divestituresDiluted earnings per share and Adjusted diluted earnings per share increased to $0.94 and $1.33, respectively, compared to $0.33 and $0.94 last yearPaid $133 million in dividendsRaised quarterly cas
Fourth Quarter 2023 Highlights Sales increased 9% to $10.5 billion, compared to 7% increase in global light vehicle productionSales increased 4% excluding foreign currency translation and acquisitions net of divestituresDiluted earnings per share and Adjusted diluted earnings per share increased to $0.94 and $1.33, respectively, compared to $0.33 and $0.94 last yearPaid $133 million in dividendsRaised quarterly cash dividend to $0.475 per share 2024 Outlook Highlights Sales expected to continue to outgrow global light vehicle production through outlook periodExpect Adjusted EBIT Margin to expand by 180 basis points or more by 2026 to 7.0-7.7% range AURORA, Ontario, Feb. 09, 2024 (GLOBE
AURORA, Ontario, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) MAGNA ANNOUNCES DATE FOR Q4 & YEAR END 2023 RESULTS and 2024 OUTLOOK CONFERENCE CALL FRIDAY – FEBRUARY 9, 20248:00 AM ET DIAL IN NUMBERSNorth America Toll-Free:1-800-621-4410International Toll:1-416-981-9010Webcast:www.magna.comSlide presentation will be available on our website prior to the call REBROADCAST INFORMATIONReplay available 2 hours after the call until February 16, 2024North America Toll-Free:1-800-558-5253International Toll:1-416-626-4100Reservation No.:22029006 INVESTOR CONTACTLouis Tonelli, Vice-President, Investor [email protected] 905-726-7035 TELECONFERENCE
Sales increased 15% to $10.7 billion, compared to a global light vehicle production increase of 4%Diluted earnings per share were $1.37Adjusted diluted earnings per share increased 33% to $1.46Raised Outlook for Adjusted EBIT Margin and Adjusted Net Income attributable to Magna, including UAW strike impact AURORA, Ontario, Nov. 03, 2023 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today reported financial results for the third quarter ended September 30, 2023. Please click HERE for full third quarter MD&A and Financial Statements. THREE MONTHS ENDEDSEPTEMBER 30, NINE MONTHS ENDEDSEPTEMBER 30, 2023 2022 2023 2022 Reported Sales $10,688 $9,268
AURORA, Ontario, May 09, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today announced voting results from its 2024 annual meeting of shareholders held on May 9, 2024. A total of 230,328,916 Common Shares or 80.18% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows: a. Election of Directors NomineeVotes FORNomineeVotes FORMary S. Chan95.27%Mary Lou Maher98.16%Hon. V. Peter Harder98.97%William A. Ruh96.46%Jan R. Hauser99.73%Dr. Indira V. Samarasekera89.07%Seetarama S. Kotagiri (CEO)99.54%Matthew Tsien96.22%Jay K. Kunkel99.83%Dr. Thomas Weber95.08%Rober
SAN FRANCISCO, March 7, 2024 /PRNewswire/ -- Serve Robotics Inc. (the "Company" or "Serve"), a leading autonomous sidewalk delivery company, announces that it has qualified to trade on the OTCQB® Venture Market operated by the OTC Markets Group Inc. and the Company's common shares commenced trading today on the OTCQB under the ticker symbol "SBOT". "Serve's transition to a publicly traded entity marks an important moment in the robotics landscape, showcasing our role as one of the first to commercially deploy AI-powered robots in urban settings. With the backing of strategic p
SDVerse serves as a ‘matchmaking' platform between buyers and sellers of embedded automotive softwareFocuses on matching automotive software buyers and sellers, over captive software developmentThe digital platform increases transparency and reduces inefficiencies in software development and procurementAmpere*, FEV, Forvia, HL Mando, NXP Semiconductors, TTTech Auto, and Valeo lead a "Launch Partner" group supporting SDVersePrashant Gulati has been named CEO of the new SDVerse organization effective March 5th, 2024 DETROIT, March 05, 2024 (GLOBE NEWSWIRE) -- General Motors (GM), global automotive supplier Magna, and leading technology services and consulting company Wipro Limited, have tea
AURORA, Ontario, May 11, 2023 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today announced voting results from its 2023 annual meeting of shareholders held on May 11, 2023. A total of 226,558,449 Common Shares or 79.18% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows: a. Election of Directors NomineeVotes FORNomineeVotes FORPeter G. Bowie99.05%Mary Lou Maher99.64%Mary S. Chan99.38%William A. Ruh95.29%Hon. V. Peter Harder99.08%Dr. Indira V. Samarasekera87.97%Jan R. Hauser99.64%Matthew Tsien99.74%Seetarama S. Kotagiri (CEO)99.65%Dr. Thomas Weber99.6
AURORA, Ontario, May 03, 2022 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today announced voting results from its 2022 annual and special meeting of shareholders held on May 3, 2022. A total of 232,806,238 Common Shares or 78.92% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows: a. Election of Directors NomineeVotes FORNomineeVotes FORPeter G. Bowie99.39%Mary Lou Maher99.75%Mary S. Chan99.41%William A. Ruh99.77%Hon. V. Peter Harder98.92%Dr. Indira V. Samarasekera97.74%Seetarama S. Kotagiri (CEO)99.52%Dr. Thomas Weber98.87%Dr. Kurt J. Lauk99
AURORA, Ontario, May 06, 2021 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG, NYSE:MGA) today announced voting results from its 2021 annual meeting of shareholders held on May 6, 2021. A total of 242,383,350 Common Shares or 80.43% of our issued and outstanding Common Shares were represented in person or by proxy at the meeting. Shareholders voted in favour of each item of business, as follows: a. Election of Directors NomineeVotes FORNomineeVotes FORPeter G. Bowie99.81%Mary Lou Maher99.77%Mary S. Chan99.15%Cynthia A. Niekamp99.93%Hon. V. Peter Harder99.10%William A. Ruh99.94%Seetarama S. Kotagiri (CEO)99.77%Dr. Indira V. Samarasekera98.13%Dr. Kurt J. Lauk99.56%Lisa S