UPDATE 3-Auto parts maker Aptiv joins rivals to flag earnings hit from China lockdowns [Reuters]
Magna International, Inc. (MGA)
Last magna international, inc. earnings: 2/21 05:00 am
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Source: Reuters
on Thursday, joining rivals who have also flagged a dent in auto production due to the ongoing COVID-19 lockdowns in China, one of the biggest auto markets. “We believe the second quarter will be significantly impacted by the COVID-related lockdowns in China,” Chief Financial Officer Joseph Massaro said during an analyst call. Aptiv has a “heavy presence” in Shanghai, a city that has been under strict lockdowns due to surging COVID-19 cases. Last week, Canadian auto parts maker Magna International Inc lowered its annual profit forecast, in part due to the lockdowns. BorgWarner Inc has also warned of a hit to its second-quarter revenue. Aptiv, though, kept its full-year forecast intact after posting better-than-expected first-quarter results, as demand for its electrical components and software from carmakers investing billions to switch to making electric vehicles. “We and most others expected APTV to cut guidance amid elevated macro pressures.....yet APTV surprised to the u
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MGA
News
- Magna International Inc. (NYSE: MGA) had its price target lowered by analysts at Raymond James from $60.00 to $57.00. They now have a "market perform" rating on the stock.MarketBeat
- Magna International Inc. (NYSE: MGA) had its price target lowered by analysts at TD Securities from $63.00 to $62.00. They now have a "buy" rating on the stock.MarketBeat
- Magna International Inc. (NYSE: MGA) had its price target lowered by analysts at National Bankshares, Inc. from $60.00 to $57.00. They now have a "market perform" rating on the stock.MarketBeat
- Magna International Inc. (NYSE: MGA) had its price target lowered by analysts at Scotiabank from $59.00 to $55.00. They now have a "sector perform" rating on the stock.MarketBeat
- Magna International Inc. (NYSE: MGA) had its price target lowered by analysts at Evercore Inc. from $62.00 to $60.00. They now have an "in-line" rating on the stock.MarketBeat
MGA
Earnings
- 5/3/24 - Miss
MGA
Sec Filings
- 5/6/24 - Form 6-K
- 5/3/24 - Form 6-K
- 4/2/24 - Form 6-K
- MGA's page on the SEC website