Magna International Announces 2023 Annual Report
TipRanks (Thu, 28-Mar 6:08 PM ET)
Magna Posts 2023 Annual Report
Globe Newswire (Thu, 28-Mar 5:26 PM ET)
Serve Robotics Inc. Common Stock to Be Quoted on OTCQB Under Ticker Symbol "SBOT"
PRNewswire (Thu, 7-Mar 7:00 AM ET)
Magna Announces Senior Notes Offering
Globe Newswire (Tue, 5-Mar 5:10 PM ET)
General Motors, Magna, and Wipro Team Up to Develop Automotive Software Marketplace: 'SDVerse'
Globe Newswire (Tue, 5-Mar 7:30 AM ET)
TSX Accepts Notice of Intention to Make Normal Course Issuer Bid
Globe Newswire (Tue, 13-Feb 6:30 AM ET)
CORRECTION Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Globe Newswire (Mon, 12-Feb 5:00 AM ET)
Magna Announces Fourth Quarter 2023 Results and 2024 Outlook
Globe Newswire (Fri, 9-Feb 5:00 AM ET)
Magna Awarded Specialized eDrive System Business With North America-Based OEM
Globe Newswire (Tue, 6-Feb 8:00 AM ET)
Magna Announces Date for Q4 & Year End 2023 Results and 2024 Outlook Conference Call
Globe Newswire (Tue, 16-Jan 3:33 PM ET)
Magna International prides itself on a highly entrepreneurial culture and a corporate constitution that outlines distribution of profits to various stakeholders. This automotive supplier's product groups include exteriors, interiors, seating, roof systems, body and chassis, powertrain, vision and electronic systems, closure systems, electric vehicle systems, tooling and engineering, and contract vehicle assembly. In 2022, roughly 50% of Magna's revenue came from North America while Europe accounted for approximately 38%.
Magna International trades on the NYSE stock market under the symbol MGA.
As of March 28, 2024, MGA stock price declined to $54.48 with 827,073 million shares trading.
MGA has a beta of 1.85, meaning it tends to be more sensitive to market movements. MGA has a correlation of 0.51 to the broad based SPY ETF.
MGA has a market cap of $15.62 billion. This is considered a Large Cap stock.
Last quarter Magna International reported $10 billion in Revenue and $1.33 earnings per share. This beat revenue expectation by $44 million and missed earnings estimates by -$.15.
In the last 3 years, MGA stock traded as high as $104.28 and as low as $45.58.
The top ETF exchange traded funds that MGA belongs to (by Net Assets): DFIV, PID, DFIC, DIHP, DFAI.
MGA has underperformed the market in the last year with a price return of +11.2% while the SPY ETF gained +33.6%. MGA has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -7.8% and +1.1%, respectively, while the SPY returned +10.1% and +1.7%, respectively.
MGA support price is $53.66 and resistance is $55.42 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MGA stock will trade within this expected range on the day.