16:28:19 EDT Thu 25 Apr 2024
Enter Symbol
or Name
USA
CA



Magna International Inc
Symbol MG
Shares Issued 380,265,511
Close 2017-05-10 C$ 58.35
Market Cap C$ 22,188,492,567
Recent Sedar Documents

Globe says analysts upbeat on Magna International

2017-05-11 08:16 ET - In the News

The Globe and Mail reports in its Thursday edition that at least half a dozen blue-chip Canadian companies will be posting their quarterly financial results on Thursday morning. The Globe's David Berman writes that so far, about 70 per cent of companies in the S&P/TSX composite index have delivered their quarterly numbers, with mostly upbeat results. On average, the results have topped expectations by 8 per cent. Magna International will be one of the key companies to watch, given its large size and the fact that it has been gripped by concerns over the international trade. The Trump administration has said it is keen to renegotiate the North American free-trade agreement, potentially affecting the cross border operations of Magna, and other auto-parts companies. Magna's share price has been rising over the past month, by nearly 11 per cent, but is still down about 5 per cent from its recent high in December. Nonetheless, analysts are upbeat, expecting Magna's profit to rise by 10 per cent, to $1.34 a share. Although the company missed expectations last quarter, its longer-term record is superb, beating estimates during the previous 10 straight quarters by an average of more than 10 per cent.

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