Tag Archives: MGA

$MGA,Magna International Inc.

Morgan Stanley found 30 ways to invest in the big autonomous driving trend including Domino’s Pizza

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

There are more ways to trade the autonomous driving and electric car trends than you think.

Morgan Stanley shared its favorite 30 stock picks for the emerging technologies with clients that not only include the direct auto-related supplier winners, but consumer and retail names that may benefit from the freed up time and responsibilities.

The firm’s “US Research team settled on 30 US stocks, all rated either overweight or equal-weight, across 14 industries, that the analysts believe are favorably exposed to growth opportunities in the execution of a shared, autonomous, electric ecosystem, or are favorably positioned to the adjacent data and content opportunities,” analyst Adam Jonas wrote in a report to clients Thursday entitled “The Shared Autonomous 30.”

The analyst cited how cars are only utilized 4 percent of the time. In addition, there are approximately 3,500 traffic fatalities per day that could be reduced through autonomous driving.

Jonas is known for having some of the most aggressively bullish predictions on Tesla’s ambitions including a note highlighting an Uber-like transport service with autonomous electric vehicles published last year.

“Shared and automated transport also unlocks the more than 600bn hours of driver and passenger time currently spent in vehicles (equal to 68 million years annually), by itself representing an economic opportunity for content and data worth potentially trillions of dollars,” he wrote.

Morgan Stanley even included consumer and retail companies Disney, Buffalo Wild Wings, Domino’s Pizza and Constellation Brands on its list as second-derivative autonomous driving plays.

Disney can profit from higher media consumption due to the more available free time, the report claims. While Buffalo Wild Wings and Constellation Brands could thrive because of higher alcohol sales as drivers do not have to worry about driving under the influence. And Domino’s Pizza can benefit from lower delivery costs, according to the firm.

For the more direct winners on autonomous driving, here are auto and transportation-related companies Morgan Stanley recommended and their price targets.

1) Magna (MGA)

“Magna-Steyr is in a singularly advantageous position to help new entrants who may want to ‘make’ their own cars by playing a similar role to what Foxconn does today for Apple in the smartphone industry,” the report said.

Morgan Stanley has an overweight rating on Magna with a $60 price target, representing 34 percent upside from Wednesday’s close.

2) Schneider National (SNDR)

The firm’s “rating reflects an improving truckload demand environment, structural supply tightening from ELDs [electronic logging devices], the secret sauce of the Quest system, technology leadership taking advantage of secular gains from intelligent trucks, and below-peer valuation,” the note said.

Morgan Stanley has an overweight rating on Schneider National with a $24 price target, representing 22 percent upside from Wednesday’s close.

3) Visteon (VC)

Visteon has the “highest forecast earnings growth of any supplier stock in our coverage … Cockpit electronics are largely powertrain agnostic and highly relevant in the new business model (shared/autonomous),” the firm wrote.

Morgan Stanley has an overweight rating on Visteon with a $115 price target, representing 15 percent upside from Wednesday’s close.

4) XPO Logistics (XPO)

“We are overweight XPO, which we see as the Tesla of Freight Transportation. We like XPO’s technology-driven platform strategy that is unique in the space,” the report said.

Morgan Stanley has a $60 price target for XPO Logistics, representing 13 percent upside from Wednesday’s close.






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Morgan Stanley found 30 ways to invest in the big autonomous driving trend including Domino's Pizza

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

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Graham Walzer | Bloomberg | Getty Images. Morgan Stanley shares its favorite autonomous driving stock picks in a note to clients Thursday. Some of them may be a bit of a stretch.

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There are more ways to trade the autonomous driving and electric car trends than you think.

Morgan Stanley shared its favorite 30 stock picks for the emerging technologies with clients that not only include the direct auto-related supplier winners, but consumer and retail names that may benefit from the freed up time and responsibilities.

The firm’s “US Research team settled on 30 US stocks, all rated either overweight or equal-weight, across 14 industries, that the analysts believe are favorably exposed to growth opportunities in the execution of a shared, autonomous, electric ecosystem, or are favorably positioned to the adjacent data and content opportunities,” analyst Adam Jonas wrote in a report to clients Thursday entitled “The Shared Autonomous 30.”

The analyst cited how cars are only utilized 4 percent of the time. In addition, there are approximately 3,500 traffic fatalities per day that could be reduced through autonomous driving.

Jonas is known for having some of the most aggressively bullish predictions on Tesla’s (NASDAQ: TSLA) ambitions including a note highlighting an Uber-like transport service with autonomous electric vehicles published last year.

“Shared and automated transport also unlocks the more than 600bn hours of driver and passenger time currently spent in vehicles (equal to 68 million years annually), by itself representing an economic opportunity for content and data worth potentially trillions of dollars,” he wrote.

Morgan Stanley even included consumer and retail companies Disney, Buffalo Wild Wings, Domino’s Pizza and Constellation Brands on its list as second-derivative autonomous driving plays.

MGA)</strong><br><br> "Magna-Steyr is in a singularly advantageous position to help new entrants who may want to 'make' their own cars by playing a similar role to what Foxconn does today for Apple in the smartphone industry," the report said.<br> <br>Morgan Stanley has an overweight rating on Magna <strong>(Toronto Stock Exchange: MG-CA)</strong> with a $60 price target, representing 34 percent upside from Wednesday's close.<br> <br><strong>2) Schneider National (SNDR)</strong><br> <br>The firm's "rating reflects an improving truckload demand environment, structural supply tightening from ELDs [electronic logging devices], the secret sauce of the Quest system, technology leadership taking advantage of secular gains from intelligent trucks, and below-peer valuation," the note said." data-reactid="26">Disney (NYSE: DIS) can profit from higher media consumption due to the more available free time, the report claims. While Buffalo Wild Wings (NASDAQ: BWLD) and Constellation Brands (NYSE: STZ) could thrive because of higher alcohol sales as drivers do not have to worry about driving under the influence. And Domino’s Pizza (NYSE: DPZ) can benefit from lower delivery costs, according to the firm.

For the more direct winners on autonomous driving, here are auto and transportation-related companies Morgan Stanley recommended and their price targets.

1) Magna (MGA)

“Magna-Steyr is in a singularly advantageous position to help new entrants who may want to ‘make’ their own cars by playing a similar role to what Foxconn does today for Apple in the smartphone industry,” the report said.

Morgan Stanley has an overweight rating on Magna (Toronto Stock Exchange: MG-CA) with a $60 price target, representing 34 percent upside from Wednesday’s close.

2) Schneider National (SNDR)

The firm’s “rating reflects an improving truckload demand environment, structural supply tightening from ELDs [electronic logging devices], the secret sauce of the Quest system, technology leadership taking advantage of secular gains from intelligent trucks, and below-peer valuation,” the note said.

VC)</strong>" data-reactid="27">Morgan Stanley has an overweight rating on Schneider National (NYSE: SNDR) with a $24 price target, representing 22 percent upside from Wednesday’s close.

3) Visteon (VC)

Visteon has the “highest forecast earnings growth of any supplier stock in our coverage … Cockpit electronics are largely powertrain agnostic and highly relevant in the new business model (shared/autonomous),” the firm wrote.

Morgan Stanley has an overweight rating on Visteon (NYSE: VC) with a $115 price target, representing 15 percent upside from Wednesday’s close.

XPO)</strong><br> <br>"We are overweight XPO, which we see as the Tesla of Freight Transportation. We like XPO's technology-driven platform strategy that is unique in the space," the report said.<br> <br>Morgan Stanley has a $60 price target for XPO Logistics <strong>(NYSE: XPO)</strong>, representing 13 percent upside from Wednesday's close." data-reactid="30">4) XPO Logistics (XPO)

“We are overweight XPO, which we see as the Tesla of Freight Transportation. We like XPO’s technology-driven platform strategy that is unique in the space,” the report said.

Morgan Stanley has a $60 price target for XPO Logistics (NYSE: XPO), representing 13 percent upside from Wednesday’s close.

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Magna International, Inc. : MGA-US: Dividend Analysis : May 26th, 2017 (record date) : By the numbers : May 25, 2017

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My 2014 Best Performers, Looking Ahead To 2015

Our analysis is based on comparing Magna International, Inc. with the following peers – Dana Incorporated, Visteon Corporation, Autoliv Inc., American Axle & Manufacturing Holdings, Inc., BorgWarner Inc., Lear Corporation, Ford Motor Company, STRATTEC SECURITY CORPORATION, Tower International, Inc. and MARTINREA International Inc. (DAN-US, VC-US, ALV-US, AXL-US, BWA-US, LEA-US, F-US, STRT-US, TOWR-US and MRE-CA).

Dividend Yield
Dividend Quality Score

Dividend Quality Overview

  • Over the last twelve months (prior to March 31, 2017), MGA-US paid a high quality dividend, which represents a yield of 2.31% at the current price.
  • Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 4 were high quality and 1 was low quality.
  • The ending cash balance, with a dividend coverage of 2.62x, provides a moderate cushion in case of a significant reduction of cash flows in the future.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to March 31, 2017), MGA-US paid a high quality dividend.

The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 8.94x), investing cash flow (coverage of -5.44x), issuance cash flow (coverage of -1.47x) and twelve-month prior cash (coverage of 1.59x), for a total dividend coverage of 3.62x.

MGA-US‘s issuance cash flow includes outflows from net share buybacks (coverage of -1.78x). Thus, the total coverage including share buybacks is 5.40x, which reflects our assumption that the cash paid for share buybacks is discretionary and could instead be used to pay dividends.

TTM)1495724632.png" title="Dividend Coverage by Cash Flow (TTM)" alt="Dividend Coverage by Cash Flow (TTM)">

These coverage ratio factors imply that the firm’s dividends are wholly paid from operating and investing cash flows net of any debt repayments, which suggests a high dividend quality.

Dividend History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
Dividend Yield (%) 2.17 1.57 1.42 2.18 2.32 2.9
Dividend Payout (%) 18.07 19.18 17.47 18.7 19.3 18.89

A complete list of metrics and analysis is available on the company page.

Company Profile

Magna International, Inc. designs, develops and manufactures automotive systems, assemblies, modules and components. It assembles complete vehicle, primarily for sale to original equipment manufacturers of cars and light trucks in North America, Europe, Asia, South America and Africa. The company was founded by Frank Stronach in 1957 and is headquartered in Aurora, Canada.

Disclaimer

The information presented in this report has been obtained from sources deemed to be reliable, but AnalytixInsight does not make any representation about the accuracy, completeness, or timeliness of this information. This report was produced by AnalytixInsight for informational purposes only and nothing contained herein should be construed as an offer to buy or sell or as a solicitation of an offer to buy or sell any security or derivative instrument. This report is current only as of the date that it was published and the opinions, estimates, ratings and other information may change without notice or publication. Past performance is no guarantee of future results. Prior to making an investment or other financial decision, please consult with your financial, legal and tax advisors. AnalytixInsight shall not be liable for any party’s use of this report. AnalytixInsight is not a broker-dealer and does not buy, sell, maintain a position, or make a market in any security referred to herein. One of the principal tenets for us at AnalytixInsight is that the best person to handle your finances is you. By your use of our services or by reading any our reports, you’re agreeing that you bear responsibility for your own investment research and investment decisions. You also agree that AnalytixInsight, its directors, its employees, and its agents will not be liable for any investment decision made or action taken by you and others based on news, information, opinion, or any other material generated by us and/or published through our services. For a complete copy of our disclaimer, please visit our website www.analytixinsight.com.






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Magna International (MGA) Beats on Q1 Earnings, Revenues

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My 2014 Best Performers, Looking Ahead To 2015

Magna International Inc. (MGA reported first-quarter 2017 earnings per share of $1.53 that surpassed the Zacks Consensus Estimate of $1.34. Earnings also improved 25% from $1.22 recorded in the first quarter of 2016.

Revenues increased 5% year over year to $9.37 billion and outperformed the Zacks Consensus Estimate of $9.26 billion as well.

The company also reported an increase in adjusted EBIT to $831 million, from the year-ago figure of $698 million.

Vehicle production dropped 1% to 4.5 million units in North America and increased 2% to 5.76 million units in Europe.

Shares of Magna International rose 4.4% to close at $44.67 on May 11 on the better than expected results.

Magna International, Inc. Price, Consensus and EPS Surprise

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Magna International, Inc. Price, Consensus and EPS Surprise | Magna International, Inc. Quote

Segment Details

Revenues at the External Production segment (comprising North America, Europe, Asia, and Rest of World or ROW units) rose 8% year over year to $8.23 billion in the reported quarter.

Sales in North America climbed 7% to $5.09 billion, driven by product launches. Revenues from Europe rose 8% year over year to $2.46 billion, backed by new product launches and benefits from acquisitions. Revenues from Asia jumped 10% to $557 million. The rise was aided by the launch of new programs, primarily in China along with benefits from acquisitions. Revenues from ROW rose 58% to $126 million due to the launch of new programs, primarily in Brazil, and higher net customer prices.

Revenues at the Complete Vehicle Assembly segment totaled $413 million, down 31% from $596 million a year ago. Moreover, assembly volumes declined 65% to 8,200 units.

Revenues from the Tooling, Engineering & Other segment increased 6% to $726 million in the quarter under review.

Financials

Magna International had $831 million of cash and cash equivalents as of Mar 31, 2017, compared with $974 million as of Dec 31, 2016. The company had long-term debt of $2.39 billion as of Mar 31, 2017, in line with the Dec 31, 2016 figure.

In first quarter 2017, Magna International’s cash flow from operations were $870 million.

Capital Deployment

On May 11, 2017, the board of directors of the company announced a quarterly dividend of 27.5 cents for the first quarter. This dividend is payable on Jun 9, 2017, to shareholders of record as on May 26, 2017.

In the first quarter, Magna International repurchased 2.3 million shares for $100 million and paid a dividend of $105 million.

Outlook

For 2017, Magna International projects revenues from the Vehicle Production segment within the range of $30.8–$32.1 billion. Meanwhile, Complete Vehicle Assembly sales are projected in the range of $2.7–$3 billion.

Thus for 2017, the company expects total revenue within $36.6–$38.3 billion. Tax rate is projected in the range of 25–26%, while capital expenditures are anticipated at around $2 billion.

Magna International, based in Aurora, Canada, is a leading manufacturer and supplier of automotive components. The company designs, develops and manufactures automotive systems, assemblies, modules and components, apart from engineering and assembling complete vehicles, primarily for sale to original equipment manufacturers of cars and light trucks.

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Price Performance

Magna International has outperformed the Zacks categorized Auto/Truck-Original Equipment Market industry over the last one month. The stock has gained 12.34% over this period while the industry has seen an 8.96% increase.

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Zacks Rank & Key Picks

Hold)." data-reactid="68">Magna International currently carries a Zacks Rank #3 (Hold).

RACE), Allison Transmission Holdings Inc. (ALSN) and Dana Incorporated (DAN). All the stocks carry a Zacks Rank #1 (Strong Buy). You can see&nbsp;<strong>the complete list of today’s Zacks #1 Rank stocks here.</strong>" data-reactid="69">Better-ranked companies in the auto space include Ferrari N.V. (RACE), Allison Transmission Holdings Inc. (ALSN) and Dana Incorporated (DAN). All the stocks carry a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The expected long-term growth rate for Ferrari, Allison Transmission and Dana are pegged at 14.13%, 11% and 3%, respectively.

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Magna International, Inc. (MGA): Free Stock Analysis Report
 
Allison Transmission Holdings, Inc. (ALSN): Free Stock Analysis Report
 
Dana Incorporated (DAN): Free Stock Analysis Report
 
Ferrari N.V. (RACE): Free Stock Analysis Report
 
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Magna Shines a Light on Blind Spots with its ClearView Vision Systems

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

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  • Combines camera technology with mirrors
  • Project builds on more than 25 years’ experience in mirrors and cameras
  • ClearView technology offers enhanced rearward vision

TROY, MI, May 15, 2017 /PRNewswire/ – Statistics from the National Highway Traffic Safety Administration show that nearly 840,000 blind spot accidents occur each year in the United States, resulting in 300 fatalities. Magna International, a leader in camera-based advanced driver assistance systems (ADAS) and mirrors, has developed ClearView™ to help improve visibility while changing lanes, backing out of a parking space, or driving with a vehicle full of cargo.

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Magna’s ClearView™ helps improve visibility while changing lanes, backing out of a parking space, or driving with a vehicle full of cargo. (CNW Group/Magna International Inc.)

The ClearView outside mirror combines a self-cleaning camera with a regulatory compliant side-view mirror to display a live feed inside the vehicle. The camera is mounted on the mirror beyond the widest point of the vehicle to achieve a maximum field of view, enhance the driver’s awareness and improve safety. It also can include features such as turn signals, ground illumination and surround-view cameras.

The ClearView inside mirror features the ability to switch between a traditional rear-view mirror and a full-size video display. The video is a live feed from a camera mounted at the back of a vehicle and provides an unobstructed view of what’s behind. This can be particularly helpful if passengers and/or cargo inside the vehicle restricts the driver’s view using the traditional rear-view mirror.

“The ClearView system combines our leading vision-based expertise with our unmatched mirror capabilities to create a solution that increases safety and gives the driver more information about their immediate surroundings,” said John O’Hara, President of Magna Closures and Mirrors.

TAGS
ClearView, rearview cameras, outside mirror, inside mirror, blind spot, safety

ABOUT MAGNA
We are a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 159,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems and have electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.






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Magna Shines a Light on Blind Spots with its ClearView Vision Systems

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

    d)" data-type="list" data-reactid="11">
  • Combines camera technology with mirrors
  • Project builds on more than 25 years’ experience in mirrors and cameras
  • ClearView technology offers enhanced rearward vision

TROY, MI , May 15, 2017 /CNW/ – Statistics from the National Highway Traffic Safety Administration show that nearly 840,000 blind spot accidents occur each year in the United States , resulting in 300 fatalities. Magna International, a leader in camera-based advanced driver assistance systems (ADAS) and mirrors, has developed ClearView™ to help improve visibility while changing lanes, backing out of a parking space, or driving with a vehicle full of cargo.

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Magna’s ClearView™ helps improve visibility while changing lanes, backing out of a parking space, or driving with a vehicle full of cargo. (CNW Group/Magna International Inc.)

The ClearView outside mirror combines a self-cleaning camera with a regulatory compliant side-view mirror to display a live feed inside the vehicle. The camera is mounted on the mirror beyond the widest point of the vehicle to achieve a maximum field of view, enhance the driver’s awareness and improve safety. It also can include features such as turn signals, ground illumination and surround-view cameras.

The ClearView inside mirror features the ability to switch between a traditional rear-view mirror and a full-size video display. The video is a live feed from a camera mounted at the back of a vehicle and provides an unobstructed view of what’s behind. This can be particularly helpful if passengers and/or cargo inside the vehicle restricts the driver’s view using the traditional rear-view mirror.

“The ClearView system combines our leading vision-based expertise with our unmatched mirror capabilities to create a solution that increases safety and gives the driver more information about their immediate surroundings,” said John O’Hara , President of Magna Closures and Mirrors.

TAGS
ClearView , rearview cameras, outside mirror, inside mirror, blind spot, safety

ABOUT MAGNA
We are a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 159,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems and have electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.

THIS RELEASE MAY CONTAIN STATEMENTS WHICH CONSTITUTE “FORWARD-LOOKING STATEMENTS” UNDER APPLICABLE SECURITIES LEGISLATION AND ARE SUBJECT TO, AND EXPRESSLY QUALIFIED BY, THE CAUTIONARY DISCLAIMERS THAT ARE SET OUT IN MAGNA’S REGULATORY FILINGS. PLEASE REFER TO MAGNA’S MOST CURRENT MANAGEMENT’S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATIONS AND FINANCIAL POSITION, ANNUAL INFORMATION FORM AND ANNUAL REPORT ON FORM 40-F, AS REPLACED OR UPDATED BY ANY OF MAGNA’S SUBSEQUENT REGULATORY FILINGS, WHICH SET OUT THE CAUTIONARY DISCLAIMERS, INCLUDING THE RISK FACTORS THAT COULD CAUSE ACTUAL EVENTS TO DIFFER MATERIALLY FROM THOSE INDICATED BY SUCH FORWARD-LOOKING STATEMENTS. THESE DOCUMENTS ARE AVAILABLE FOR REVIEW ON MAGNA’S WEBSITE AT WWW.MAGNA.COM.

SOURCE Magna International Inc.

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Magna announces 2017 annual meeting results

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

AURORA, ON, May 11, 2017 /PRNewswire/ – Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2017 annual meeting of shareholders. A total of 277,209,607 Common Shares or 72.69% of our issued and outstanding Common Shares, were voted in connection with the meeting. Shareholders voted by a show of hands in favour of each item of business. Based on proxies received prior to the meeting and votes cast in person at the meeting, each director nominee was elected by a substantial majority as follows:

4px) My(1.4em) Ov(a) canvas-atom" data-type="table" data-reactid="12">

Nominee

Votes FOR

Scott B. Bonham

99.76%

Peter G. Bowie

99.72%

Lady Barbara Judge

97.97%

Dr. Kurt J. Lauk

99.83%

Cynthia A. Niekamp

99.82%

William A. Ruh

99.86%

Dr. Indira V. Samarasekera

98.77%

Donald J. Walker

99.87%

Lawrence D. Worrall

98.67%

William L. Young

98.71%

 

Additionally, Magna’s advisory “say on pay” vote received 92.19% support based on proxies received prior to the meeting and votes cast in person at the meeting.  Full results of the votes are included as Appendix “A” to this press release.

MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at <a target="_blank" href="http://www.magna.com/" rel="nofollow noopener">www.magna.com</a>." data-reactid="16">OUR BUSINESS (1)
We are a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 159,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems and have electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.

______________________
(1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.

Appendix “A”

VOTING RESULTS – 2017 ANNUAL MEETING OF SHAREHOLDERS

4px) My(1.4em) Ov(a) canvas-atom" data-type="table" data-reactid="20">

Resolution

Votes For

Votes Withheld/Against

#

%

#

%

Elect Scott B. Bonham as Director

258,195,412

99.76

614,135

0.24

Elect Peter G. Bowie as Director

258,075,876

99.72

733,670

0.28

Elect Lady Barbara Judge as Director

253,553,704

97.97

5,255,843

2.03

Elect Dr. Kurt J. Lauk as Director

258,370,214

99.83

439,332

0.17

Elect Cynthia A. Niekamp as Director

258,350,970

99.82

458,576

0.18

Elect William A. Ruh as Director

258,436,555

99.86

372,993

0.14

Elect Dr. Indira V. Samarasekera as Director

255,613,802

98.77

3,195,744

1.23

Elect Donald J. Walker as Director

258,481,919

99.87

327,565

0.13

Elect Lawrence D. Worrall as Director

255,373,016

98.67

3,436,531

1.33

Elect William L. Young as Director

255,479,889

98.71

3,329,659

1.29

Re-Appointment of Deloitte LLP as Auditors

276,184,420

99.63

1,022,261

0.37

Advisory Resolution on Approach to Executive Compensation

238,602,711

92.19

20,205,970

7.81

 






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Magna announces 2017 annual meeting results

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

AURORA, ON , May 11, 2017 /CNW/ – Magna International Inc. (TSX: MG; NYSE: MGA) today announced voting results from its 2017 annual meeting of shareholders. A total of 277,209,607 Common Shares or 72.69% of our issued and outstanding Common Shares, were voted in connection with the meeting. Shareholders voted by a show of hands in favour of each item of business. Based on proxies received prior to the meeting and votes cast in person at the meeting, each director nominee was elected by a substantial majority as follows:

4px) My(1.4em) Ov(a) canvas-atom" data-type="table" data-reactid="12">

Nominee

Votes FOR

Scott B. Bonham

99.76%

Peter G. Bowie

99.72%

Lady Barbara Judge

97.97%

Dr. Kurt J. Lauk

99.83%

Cynthia A. Niekamp

99.82%

William A. Ruh

99.86%

Dr. Indira V. Samarasekera

98.77%

Donald J. Walker

99.87%

Lawrence D. Worrall

98.67%

William L. Young

98.71%

 

Additionally, Magna’s advisory “say on pay” vote received 92.19% support based on proxies received prior to the meeting and votes cast in person at the meeting.  Full results of the votes are included as Appendix “A” to this press release.

MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at <a target="_blank" href="http://www.magna.com/" rel="nofollow noopener">www.magna.com</a>." data-reactid="16">OUR BUSINESS (1)
We are a leading global automotive supplier with 321 manufacturing operations and 102 product development, engineering and sales centres in 29 countries. We have over 159,000 employees focused on delivering superior value to our customers through innovative products and processes, and world class manufacturing. We have complete vehicle engineering and contract manufacturing expertise, as well as product capabilities which include body, chassis, exterior, seating, powertrain, active driver assistance, vision, closure and roof systems and have electronic and software capabilities across many of these areas. Our common shares trade on the Toronto Stock Exchange (MG) and the New York Stock Exchange (MGA). For further information about Magna, visit our website at www.magna.com.

______________________
(1) Manufacturing operations, product development, engineering and sales centres and employee figures include certain equity-accounted operations.

Appendix “A”

VOTING RESULTS – 2017 ANNUAL MEETING OF SHAREHOLDERS

4px) My(1.4em) Ov(a) canvas-atom" data-type="table" data-reactid="20">

Resolution

Votes For

Votes Withheld/Against

#

%

#

%

Elect Scott B. Bonham as Director

258,195,412

99.76

614,135

0.24

Elect Peter G. Bowie as Director

258,075,876

99.72

733,670

0.28

Elect Lady Barbara Judge as Director

253,553,704

97.97

5,255,843

2.03

Elect Dr. Kurt J. Lauk as Director

258,370,214

99.83

439,332

0.17

Elect Cynthia A. Niekamp as Director

258,350,970

99.82

458,576

0.18

Elect William A. Ruh as Director

258,436,555

99.86

372,993

0.14

Elect Dr. Indira V. Samarasekera as Director

255,613,802

98.77

3,195,744

1.23

Elect Donald J. Walker as Director

258,481,919

99.87

327,565

0.13

Elect Lawrence D. Worrall as Director

255,373,016

98.67

3,436,531

1.33

Elect William L. Young as Director

255,479,889

98.71

3,329,659

1.29

Re-Appointment of Deloitte LLP as Auditors

276,184,420

99.63

1,022,261

0.37

Advisory Resolution on Approach to Executive Compensation

238,602,711

92.19

20,205,970

7.81

 

SOURCE Magna International Inc.

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Zacks Industry Outlook Highlights: Volkswagen AG, Fiat Chrysler, Meritor, Tenneco and Magna International

This post was originally published on this site



My 2014 Best Performers, Looking Ahead To 2015

For Immediate Release

Chicago, IL – May 11, 2017 – Today, Zacks Equity Research discusses the Industry: Autos, Part 3, including Volkswagen AG (OTCMKTS: VLKAY – Free Report ), Fiat Chrysler (NYSE: FCAU – Free Report ), Meritor Inc. (NYSE: MTOR – Free Report ), Tenneco Inc. (NYSE: TEN – Free Report ) and Magna International Inc. (NYSE: MGA – Free Report ).

Industry: Autos, Part 3

Link: https://www.zacks.com/commentary/113447/auto-sector-grapples-with-safety-recalls-softening-us-sales

Strong sales in all major markets have been a boon for the auto sector lately. However, there are certain challenges like high expenses related to auto recalls. The rate of sales growth in the U.S. and Europe is also on the decline.

While there are several positives such as low gas prices, record U.S. sales and impressive China sales, there are also a number of factors that raise caution in the short and the long term. Below, we discuss some of the key challenges that the auto sector might face in the coming months.

Safety Recall Expenses

Safety recalls and related costs have turned out to be a major issue for most automakers. Per the U.S. Transportation Department, automakers recalled 53.2 million vehicles in the U.S. in 2016, setting a new record. In total, automakers announced nearly 927 recalls for safety issues in 2016, which is another record high.

The previous record for both the number of recalls and vehicles recalled was set in 2015, when automakers announced 900 recalls covering 51.1 million vehicles. Notably, these figures only cover the recalls in the U.S. — the global numbers are much higher.

Auto recall figures for 2017 are also expected to be high due to the defective Takata airbag inflators, which resulted in significant recalls between 2014 and 2016. The U.S. regulators expect recalls to eventually affect roughly 42 million vehicles in the country, with nearly 70 million Takata air bag inflators. This also marks the largest auto recall in the U.S.

Meanwhile, Volkswagen AG’s (OTCMKTS: VLKAY – Free Report ) emission scandal is responsible for a significant number of recalls. However, these are not included in the figures issued by the NHTSA as emission-related problems fall under standard violation and not safety. Recently, the EPA accused Fiat Chrysler (NYSE: FCAU – Free Report ) of using software to manipulate emissions in vehicles that would have otherwise violated the Clean Air Act. This may again lead to a large number of recalls.

Strict regulatory implementation by the government and high fines imposed in recent years on many automakers for delay in reporting safety issues prompted many companies to proactively announce safety recalls. Recall-related repair costs increase the financial burden of auto manufacturers. A massive recall can also hurt sales as consumers start questioning the brand’s safety.

U.S. Sales Set to Plateau

Following two years of record volumes, most analysts believe that U.S. auto sales are likely to hit a plateau. Sales are expected to be significantly high this year but lower than 2016.

Pent-up demand from the Great Recession, which drove sales in the last few years, seems to have been satisfied. Moreover, with several rate hikes planned by the Fed, interest rate on auto loans may rise. This will have a direct impact on sales volume. U.S. auto sales in the first quarter of 2017 were the lowest first-quarter sales since 2009.

Risk of Border Tax

President Trump is planning to impose taxes as high as 35% on import of Mexico-made vehicles. While the policy is aimed at encouraging production in the U.S., most automakers have been producing a significant proportion of their vehicles in Mexico to advantage from lower costs for long. This allows them to reduce the cost of production, which ensures profitability of low-margin vehicle segments. A hefty border tax may force these automakers to reduce or completely stop production in Mexico, which can affect their bottom lines.

Slower Sales Growth in Europe

Although the European auto market is recovering, it is expected to witness slower growth this year. Per the European Automobile Manufacturer’s Association , car sales growth in 2017 is expected to slow down to 1%, compared to 6.8% growth witnessed in 2016. Uncertainty related to macro-economic conditions and political developments remain in the region.

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Declining Used Car Prices

Used car prices have been declining in the U.S. The NADA Used Car Guide ’s used car index has been falling consistently over the last few months, with an exception in March. In 2017, prices are expected to decline 6% year over year.

This has been supported by a large number of leased cars coming off of the lease, increasing the supply of used cars. A fall in the price of used cars will lead to a decline in the demand for new cars. Moreover, automakers may need to offer further incentives to boost new car sales.

Alternately, for companies such as CarMax, dealing primarily in used cars, decline in the average selling price is expected to affect revenues.

Rising Delinquency Rates

Auto loans have been rising consistently over the last few years, touching a record $1.16 trillion in 2016, per the Federal Reserve Bank of New York. While this rise in loans has been driving auto sales, consumers with the riskiest credit profiles saw the highest growth. This has led to a significant rise in auto loan delinquencies. For loan providers, as bad debts increase, the loans provided will also decline, affecting demand for vehicles.

Market Share Concentration

The majority share of the automobile market is held only by a few leading automakers. This makes the automobile sector highly competitive. The top 10 global automakers account for nearly 81% of total vehicles sold, according to marketrealist.com.

Moreover, high dependence on these automakers makes auto parts’ suppliers vulnerable to pricing pressure and production cut. Pricing pressure from automakers constricts margins of parts suppliers. Simultaneously, frequent production cuts by automakers to cope with market adjustments affect suppliers’ operations.

Some auto industry suppliers that are dependent on a few major automakers are Meritor Inc. (NYSE: MTOR – Free Report ), Tenneco Inc. (NYSE: TEN – Free Report ) and Magna International Inc. (NYSE: MGA – Free Report ).

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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.

VLKAY): Free Stock Analysis Report</a><br>&nbsp;<br><a href="https://www.zacks.com/registration/pfp?ALERT=YAHOO_ZR&amp;d_alert=rd_final_rank&amp;t=FCAU&amp;ADID=YAHOO_content_ZRANK_ARTCAT_PRESS_RELEASES&amp;cid=CS-YAHOO-FT-260175" rel="nofollow noopener" target="_blank">Fiat Chrysler Automobiles N.V. (FCAU): Free Stock Analysis Report</a><br>&nbsp;<br><a href="https://www.zacks.com/registration/pfp?ALERT=YAHOO_ZER&amp;d_alert=ZER_CONF&amp;t=MTOR&amp;ADID=YAHOO_content_ZER_ARTCAT_PRESS_RELEASES&amp;cid=CS-YAHOO-FT-260175" rel="nofollow noopener" target="_blank">Meritor, Inc. (MTOR): Free Stock Analysis Report</a><br>&nbsp;<br><a href="https://www.zacks.com/registration/pfp?ALERT=YAHOO_ZER&amp;d_alert=ZER_CONF&amp;t=TEN&amp;ADID=YAHOO_content_ZER_ARTCAT_PRESS_RELEASES&amp;cid=CS-YAHOO-FT-260175" rel="nofollow noopener" target="_blank">Tenneco Inc. (TEN): Free Stock Analysis Report</a><br>&nbsp;<br><a href="https://www.zacks.com/registration/pfp?ALERT=YAHOO_ZER&amp;d_alert=ZER_CONF&amp;t=MGA&amp;ADID=YAHOO_content_ZER_ARTCAT_PRESS_RELEASES&amp;cid=CS-YAHOO-FT-260175" rel="nofollow noopener" target="_blank">Magna International, Inc. (MGA): Free Stock Analysis Report</a><br>&nbsp;<br><a href="https://www.zacks.com/stock/news/260175/zacks-industry-outlook-highlights-volkswagen-ag-fiat-chrysler-meritor-tenneco-and-magna-international?cid=CS-YAHOO-FT-260175" rel="nofollow noopener" target="_blank">To read this article on Zacks.com click here.</a><br>&nbsp;<br><a href="https://www.zacks.com/" rel="nofollow noopener" target="_blank">Zacks Investment Research</a>" data-reactid="60">Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Volkswagen AG (VLKAY): Free Stock Analysis Report
 
Fiat Chrysler Automobiles N.V. (FCAU): Free Stock Analysis Report
 
Meritor, Inc. (MTOR): Free Stock Analysis Report
 
Tenneco Inc. (TEN): Free Stock Analysis Report
 
Magna International, Inc. (MGA): Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
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Magna tops Street 1Q forecasts

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My 2014 Best Performers, Looking Ahead To 2015

AP) _ Magna International Inc. (MGA) on Thursday reported first-quarter net income of $586 million." data-reactid="11">AURORA, Ontario (AP) _ Magna International Inc. (MGA) on Thursday reported first-quarter net income of $586 million.

The Aurora, Ontario-based company said it had profit of $1.53 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.34 per share.

The automotive supply company posted revenue of $9.37 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $9.26 billion.

Magna expects full-year revenue in the range of $36.6 billion to $38.3 billion.

Magna shares have fallen 1.5 percent since the beginning of the year. The stock has increased slightly more than 3 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MGA at https://www.zacks.com/ap/MGA

_____

Keywords: Magna, Earnings Report






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