MGA Stock Recent News

Magna International, a multinational mobility solutions and technology company for automakers, is now a $12 billion (by market cap) leading manufacturer. Manga increased its dividend for 15 consecutive years, with a 10-year dividend growth rate of 11.1%. Magna moved its revenue from $34.4 billion in FY 2014 to $42.8 billion in FY 2023, a compound annual growth rate of 2.5%.

AURORA, Ontario, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Magna International Inc. (TSX:MG) (NYSE:MGA) MAGNA INTERNATIONAL INC.

September 30, 2024 (Maple Hill Syndicate) – Geraldine Weiss, who died two years ago at age 96, was a successful investment newsletter writer at a time when few women were prominent in finance. She wrote a book called Dividends Don't Lie.

Toys on Highly Anticipated Hot 20, STEM 10 and 12 Under $20 List Average Under $50,Most Affordable Holiday Gift Guide Ever Has More than 175 Products Under $25 NEW YORK, Sept. 17, 2024 /PRNewswire/ -- The Toy Insider, the toy industry's most influential organization and the No. 1 toy resource for parents and gift-givers, unveiled its expert picks today for the best toys, games and gifts of 2024 in its 19th annual Holiday Gift Guide. This year's hottest toys appear on one of three featured lists: the Hot 20, the most popular playthings of the year; the STEM 10, top toys that encourage STEM learning; and the 12 Under $20, the best toys that won't break the bank. This year's complete holiday gift guide has more than 375 toys from 139 toymakers. Shopping for holiday gifts comes with its own challenges this year, as consumers tighten budgets amid record-high household debt and rising prices of everyday items like groceries. In addition to nationwide efforts to lower the cost of living, toym

Magna (MGA) reports lower-than-expected second-quarter results and expects 2024 revenues in the band of $42.5-$44.1 billion, down from $42.6-$44.2 billion guided earlier.

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 price represents a premium of 7.58% to yesterday's closing price of Magna Common Shares on the TSX of CDN $53.82, the offer is highly conditional. TRC Capital's offer states that it may withdraw its offer if, among other things, the market price of Magna Common Shares falls below CDN $57.58,

Magna International Inc. reported Q2 earnings with flat sales, missed EPS, and lower EBIT compared to the previous year. The company attributed lackluster performance to the global automotive slump, especially in Europe, leading to downward revisions in the 2024 and 2026 outlook. Market demand for vehicles, slow adoption of EVs, and overall weakness worldwide pose challenges for Magna International, keeping me cautious about starting a position.

Magna International Inc. (NYSE:MGA ) Q2 2024 Earnings Conference Call August 2, 2024 8:00 AM ET Company Participants Swamy Kotagiri - Chief Executive Officer Patrick McCann - Executive Vice President, Chief Financial Officer Louis Tonelli - Vice President, Investor Relations Conference Call Participants John Murphy - Bank of America Adam Jonas - Morgan Stanley Tamy Chen - BMO Capital Markets Dan Levy - Barclays James Picariello - BNP Paribas Mark Delaney - Goldman Sachs Itay Michaeli - Citi Brian Morrison - TD Cowen Joseph Spak - UBS Securities Colin Langan - Wells Fargo Operator Good morning and welcome to the Magna International Inc. second quarter 2024 results webcast call. All lines have been placed on mute to prevent any background noise.

Although the revenue and EPS for Magna (MGA) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Magna (MGA) came out with quarterly earnings of $1.35 per share, missing the Zacks Consensus Estimate of $1.46 per share. This compares to earnings of $1.50 per share a year ago.