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MGA $42.22

MGA target price
42.22
0
0
Magna International Inc.
Type
Public
Traded as NYSE: MGA
TSX: MG
Industry Auto and Truck parts
Founded 1957
Headquarters Aurora, Ontario, Canada
Key people
Donald Walker, CEO
Vincent J. Galifi, Executive VP & CFO
Swamy Kotagiri, Chief Technology Officer
Revenue Increase US$ 036.4 billion (2016)
Operating income
Increase US$ 02.78 billion (2016)
Net income
Increase US$ 002.03 billion (2016)
Total assets Increase US$ 22.5billion (2016)
Total equity Increase US$ 09.7 billion (2016)
Number of employees
159,000
Website www.magna.com

Magna International Inc. is a Canadian global automotive supplier headquartered in Aurora, Ontario, Canada. In 2014 it was the largest automobile parts manufacturer in North America by sales of original equipment parts, and one of Canada's largest companies. Its operating groups include Magna Steyr, Magna Powertrain, Magna Exteriors, Magna Seating, Magna Closures, Magna Mirrors, Magna Electronics and Cosma International.

Magna manufactures auto parts that are primarily supplied to General Motors, Ford Motor Company, and Chrysler LLC. In addition to the Big 3 U.S. automakers, Magna's major customers include Tesla Motors, Volkswagen, BMW and Toyota. In Europe, Magna Steyr holds contracts for the assembly of the Peugeot RCZ and Mini Countryman.

Magna has approximately 159,000 employees in 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. Magna operates under a corporate constitution which calls for distribution of profits to employees and shareholders. The terms of this contract are "fair enterprise" according to Frank Stronach, company founder.

Magna’s capabilities include the design, engineering, testing and manufacture of exterior systems, seating systems, closure systems, vision systems, powertrain systems, electronic systems, roof systems, body & chassis systems, hybrid & electric vehicle systems, and vehicle engineering & contract assembly.

The company was founded in 1957 by Frank Stronach as Multimatic Investments Ltd. This company merged with Magna Electronics in 1969, and the combined company became Magna International in 1973.

Magna acquired 80% of New Venture Gear, once a joint venture between General Motors and Chrysler, in September 2004, and combined it into Magna Powertrain. It assumed full ownership in 2007.

Magna purchased CTS Fahrzeug-Dachsysteme, a supplier of convertible roofs, from Porsche in November 2005.

The Sunday Telegraph in London reported January 2007 that Magna International was on a short list of bidders to purchase Aston Martin. Their bid was unsuccessful; the company instead went to a British consortium led by Dave Richards of Prodrive for £479 million.

According to a NPR broadcast on March 23, 2007, Magna showed interest in acquiring the Chrysler division of DaimlerChrysler. However, on 14 May 2007, it was announced that Cerberus Capital Management had won the acquisition bid for $7.4 billion.

In April 2008, Magna's wholly owned subsidiary, Cosma International, announced that they were buying the Ogihara America Corp. stamping plant in Birmingham, Alabama, that makes parts for Mercedes-Benz and other automakers.

During the second quarter of 2015, the Magna battery pack business, Magna Steyr, was sold to Samsung SDI approximately $120 million.

In July 2015, Magna bought the German company Getrag, specialized in transmission systems with about 13,500 employees, for 1.9 billion dollars.

Magna has produced a number of first-to-market technologies and manufacturing processes throughout its history. Some of these innovations include the integrated child safety seat, stow-into-floor minivan seats, and plastic, reaction injection moulding (RIM) bumpers.

Magna has also been recognized with several Automotive News PACE Awards for its innovations. Magna technologies that received PACE Awards in recent years include its BlindZone outside mirror (2009), Infinity rearview mirror (2012), laser-welded, hot-stamped door ring (2014, in partnership with Honda and ArcelorMittal) and PureView seamless sliding window (2015).

In 2005, Magna began producing automotive rearview cameras at its facility in Holly, Michigan, and in September 2014, Magna produced its 10 millionth rearview camera in Holly.

In 2011, Magna supplied the complete electric drivetrain on the 2012 Ford Focus Electric, Ford’s first full production, all-electric passenger vehicle. The Focus Electric was awarded the 2011 Green Car Vision Award at the 2011 Washington Auto Show.

In June 2014, Magna presented a Multi-Material Lightweight Vehicle (MMLV) concept developed in partnership with Ford Motor Company. The vehicle was based on a 2013 Ford Fusion and represented a 25 percent vehicle weight reduction. The vehicle was cosponsored by the U.S Department of Energy and was praised by numerous industry leaders for its innovative approach to vehicle lightweighting and fuel efficiency.

In 2015, Magna’s SmartLatch, an industry-first, 100 percent electronic door latching system, was named a finalist for the 2016 Automotive News PACE Awards.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-03 Future report Set alerts
Q2 2022 2022-07-29 Future report Set alerts
Q1 2022 2022-04-29 1.28 1.28
Q4 2021 2022-02-11 1.30 1.30
Q3 2021 2021-11-05 0.56 0.56
Q2 2021 2021-08-06 1.40 1.40
Q1 2021 2021-05-06 1.86 1.86
Q4 2020 2021-02-19 2.83 2.83
Q3 2020 2020-11-06 1.95 1.95
Q2 2020 2020-08-07 -1.71 -1.71

Ratings

2016-06-28 Downgrade BMO Capital Markets Outperform to Market Perform $50.00 to $36.00
2016-05-07 Reiterated Rating RBC Capital Outperform $73.00 to $76.00
2016-05-07 Reiterated Rating Royal Bank Of Canada Outperform $73.00 to $76.00
2016-04-01 Reiterated Rating Citigroup Inc. Buy
2016-03-17 Lower Price Target Morgan Stanley Overweight $71.00 to $60.00
2016-03-03 Reiterated Rating Morgan Stanley Outperform
2016-02-29 Boost Price Target TD Securities Buy $44.00 to $46.00
2016-02-29 Lower Price Target Credit Suisse Outperform $55.00 to $50.00
2016-02-29 Lower Price Target Credit Suisse Group AG Outperform $55.00 to $50.00
2016-02-16 Lower Price Target TD Securities Buy $46.00 to $44.00
2016-01-25 Lower Price Target Deutsche Bank Buy $66.00 to $59.00
2016-01-25 Upgrade Citigroup Inc. Neutral to Buy
2016-01-25 Lower Price Target Deutsche Bank AG Buy $66.00 to $59.00
2016-01-14 Lower Price Target TD Securities $57.00 to $46.00
2016-01-14 Reiterated Rating Canaccord Genuity Buy $66.00 to $56.00
2016-01-14 Lower Price Target RBC Capital Outperform $64.00 to $62.00
2015-12-23 Initiated Coverage Susquehanna Neutral $47.00
2015-11-06 Lower Price Target TD Securities $59.00 to $57.00
2015-11-06 Lower Price Target Morgan Stanley Overweight $71.00
2015-11-06 Lower Price Target Credit Suisse $60.00 to $55.00
2015-11-06 Reiterated Rating Deutsche Bank Buy $74.00 to $66.00
2015-11-06 Upgrade JPMorgan Chase & Co. Neutral to Overweight $63.00 to $61.00
2015-11-06 Lower Price Target RBC Capital Outperform $68.00 to $64.00
2015-11-05 Reiterated Rating Canaccord Genuity Buy $67.00
2015-10-19 Lower Price Target Credit Suisse $65.00 to $60.00
2015-10-14 Boost Price Target Goldman Sachs $59.00 to $63.00
2015-10-14 Boost Price Target Goldman Sachs Group Inc. $59.00 to $63.00
2015-10-02 Reiterated Rating Canaccord Genuity Buy $67.00
2015-10-01 Reiterated Rating Scotiabank Sector Outperform $70.00
2015-09-23 Downgrade CIBC Sector Outperform to Sector Perform $62.50 to $52.00
2015-08-17 Reiterated Rating Morgan Stanley Overweight $76.00
2015-08-11 Reiterated Rating Deutsche Bank Buy $75.00
2015-08-10 Reiterated Rating Scotiabank Sector Outperform $70.00
2015-08-10 Reiterated Rating Canaccord Genuity Buy $63.00
2015-07-20 Lower Price Target TD Securities Hold $62.00 to $61.00
2015-07-16 Reiterated Rating Deutsche Bank Buy $75.00
2015-07-16 Reiterated Rating Canaccord Genuity Buy $64.00
2015-05-27 Upgrade Deutsche Bank Hold to Buy $57.00 to $75.00
2015-05-08 Reiterated Rating Canaccord Genuity Buy
2015-05-08 Boost Price Target JPMorgan Chase & Co. Neutral $60.00 to $62.00
2015-05-08 Boost Price Target RBC Capital Outperform $63.00 to $66.00
2015-05-06 Boost Price Target Morgan Stanley Overweight $65.00 to $75.00
2015-04-29 Reiterated Rating Scotiabank Sector Outperform
2015-04-16 Reiterated Rating Canaccord Genuity Buy
2015-03-31 Reiterated Rating Canaccord Genuity Buy
2015-03-11 Lower Price Target Deutsche Bank Hold $58.00 to $57.00
2015-03-02 Reiterated Rating Citigroup Inc. Hold $57.50 to $59.50
2015-02-26 Boost Price Target JPMorgan Chase & Co. Neutral $56.00 to $60.00
2015-02-26 Reiterated Rating Credit Suisse Outperform
2015-02-25 Set Price Target Canaccord Genuity Buy $55.50
2015-01-26 Reiterated Rating JPMorgan Chase & Co. Hold $62.50 to $56.00
2015-01-15 Downgrade TD Securities Buy to Hold $60.00 to $55.00
2015-01-15 Upgrade Canaccord Genuity Hold to Buy $55.00 to $55.50
2015-01-14 Set Price Target Canaccord Genuity Hold $55.00
2015-01-12 Lower Price Target RBC Capital Outperform $63.00 to $62.50
2014-11-06 Reiterated Rating JPMorgan Chase & Co. Neutral $62.00 to $62.50
2014-11-06 Reiterated Rating Citigroup Inc. Neutral $60.00 to $57.50
2014-10-17 Reiterated Rating Deutsche Bank Hold $51.00 to $56.00
2014-09-22 Reiterated Rating JPMorgan Chase & Co. Neutral $60.00 to $66.00
2014-08-13 Initiated Coverage Credit Suisse Outperform $64.00
2014-08-12 Reiterated Rating Citigroup Inc. Neutral $53.50 to $60.00
2014-08-11 Reiterated Rating KeyBanc Buy $57.50 to $65.00
2014-08-11 Reiterated Rating Deutsche Bank Hold $49.00 to $51.00
2014-08-11 Boost Price Target JPMorgan Chase & Co. Neutral $58.00 to $60.00
2014-08-11 Boost Price Target CIBC Sector Outperformer $57.50 to $60.00
2014-08-11 Boost Price Target Canaccord Genuity $51.00 to $54.00
2014-08-11 Reiterated Rating KeyCorp Buy $57.50 to $65.00
2014-07-22 Reiterated Rating JPMorgan Chase & Co. Hold $53.50 to $58.00
2014-07-14 Reiterated UBS Neutral $101 to $116
2014-06-26 Reiterated Rating Scotiabank Sector Outperform
2014-05-13 Reiterated Rating Citigroup Inc. Hold $49.50 to $53.50
2014-05-12 Boost Price Target CIBC Sector Outperform $55.00 to $57.50
2014-05-09 Boost Price Target TD Securities $55.00 to $57.50
2014-05-09 Boost Price Target BMO Capital Markets $54.00 to $55.00
2014-05-09 Boost Price Target JPMorgan Chase & Co. Neutral $53.00 to $53.50
2014-05-09 Boost Price Target Morgan Stanley $55.00 to $62.50
2014-05-05 Lower Price Target Canaccord Genuity $51.50 to $51.00
2014-04-22 Initiated UBS Neutral $101
2014-04-22 Reiterated Rating JPMorgan Chase & Co. Neutral $53.00
2014-04-11 Boost Price Target Morgan Stanley Overweight $46.50 to $55.00
2014-04-09 Upgrade Citigroup Inc. Sell to Neutral $38.50 to $49.50
2014-03-25 Boost Price Target Guggenheim $39.00 to $44.50
2014-03-10 Boost Price Target KeyBanc $50.00 to $57.50
2014-03-07 Initiated Coverage Deutsche Bank Buy $55.00 to $47.87
2014-03-07 Initiated Coverage TD Securities Buy $5.00
2014-03-04 Reiterated Rating Scotiabank Sector Outperform
2014-03-04 Boost Price Target BMO Capital Markets $49.00 to $53.00
2014-03-04 Boost Price Target Canaccord Genuity $46.00 to $51.50
2014-03-04 Boost Price Target CIBC $50.00 to $55.00
2014-03-04 Upgrade Goldman Sachs Sell to Neutral $39.00 to $50.50
2014-03-04 Upgrade JPMorgan Chase & Co. Underweight to Neutral $46.50 to $51.00
2014-02-14 Reiterated Rating Deutsche Bank Hold $42.50 to $47.50
2014-01-21 Boost Price Target RBC Capital Outperform $46.50 to $50.50
2013-11-22 Reiterated Rating Deutsche Bank Positive
2013-11-22 Boost Price Target Canaccord Genuity $44.50 to $45.50
2013-11-22 Boost Price Target Morgan Stanley $42.50
2013-11-07 Boost Price Target Deutsche Bank Hold $37.00 to $39.00
2013-10-21 Downgrade Canaccord Genuity Buy to Hold
2013-08-12 Reiterated Deutsche Bank Hold $67 to $72
2013-03-04 Reiterated Deutsche Bank Hold $57 to $60
2013-01-28 Upgrade KeyBanc Capital Mkts Hold to Buy $61
2013-01-17 Reiterated BMO Capital Markets Outperform $55 to $61
2013-01-07 Reiterated RBC Capital Mkts Outperform $56 to $61
2011-03-14 Upgrade Canaccord Genuity Hold to Buy $64
2011-02-24 Reiterated RBC Capital Mkts Outperform $71 to $67
2010-08-09 Reiterated Deutsche Bank Hold $75 to $81
2016-06-28 Downgrade BMO Capital Markets Outperform to Market Perform $50.00 to $36.00
2016-05-07 Reiterated Rating RBC Capital Outperform $73.00 to $76.00
2016-05-07 Reiterated Rating Royal Bank Of Canada Outperform $73.00 to $76.00
2016-04-01 Reiterated Rating Citigroup Inc. Buy
2016-03-17 Lower Price Target Morgan Stanley Overweight $71.00 to $60.00

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks