22:21:41 EDT Wed 24 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 382,552,522
Close 2017-02-17 C$ 59.60
Market Cap C$ 22,800,130,311
Recent Sedar Documents

FP says RBC's Arthur prefers Magna Int'l over its peers

2017-02-17 08:43 ET - In the News

Also In the News (C-LNR) Linamar Corp
Also In the News (C-MRE) Martinrea International Inc

The Financial Post reports in its Friday, Feb. 17, edition that higher auto production in all key regions points to a healthy round of earnings when Canada's three auto suppliers post quarterly results on Feb. 24. The Post's Jonathan Ratner writes that light vehicle sales in the U.S. came in at a seasonally adjusted annual rate of 18.1 million in the fourth quarter, exceeding the pace of 17.4 million for the first nine months of 2016. Investors remain concerned about the North American auto cycle hitting a peak. RBC analyst Steve Arthur notes that these worries have subsided in recent months, as investors buy into a "stronger for longer" thesis. Instead, uncertainty about trade and taxation in the U.S. has moved to the forefront, which is partly why Canadian suppliers have underperformed their U.S. peers since the end of the third quarter. Mr. Arthur says, "We will look for commentary from each of the suppliers surrounding their cross border trade and the potential implications of a border adjusted tax in the U.S." He continues to prefer Magna International among its Canadian peers highlighting its continuing growth, discounted valuation and the likelihood of a 10-per-cent-plus dividend increase.

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