Magna International Stock News

Canadian auto parts maker Magna International Inc. is joining other Canadian companies in standing up against aggression in Ukraine by idling its Russian operations.

TORONTO - Magna International Inc. is joining other Canadian companies in idling its Russian operations following the country''s invasion of Ukraine. Spokeswoman Tracy Fuerst says the Aurora, Ont.-based auto parts manufacturer …

Magna International, Couche-Tard among Canadian companies keeping businesses going in Russia

A multiyear period of sales expansion is looming for the automotive sector, and these companies are well-positioned to benefit from it.

Magna recently announced 4th quarter results for its 2021 fiscal year, with its results impacted by ongoing semiconductor shortages.

Magna International says its battery-electric, 4WD powertrain system could allow automakers to electrify their utes without having to redo architectures.

In 2018, when it all started, Yulu was targeting white-collar office workers for their last-mile connectivity needs.The Covid-19 pandemic, however, came as a body blow for all mobility companies and Yulu was no exception. As work-from-home became the norm, its business nosedived. But soon, something changed. Following the second Covid-19 wave last year, demand for delivery staff skyrocketed amid rising home delivery needs for both food as well essential items. Now, 60% of its revenue comes from the delivery workforce, Yulu''s cofounder Amit Gupta said. Gupta expects it to rise to 80% by the end of the year.Yulu''s pivot was more accidental than a calculated move. The firm, which competes with the likes of Bounce and Vogo, is set to deploy its new model, YuluDex, which is more suitable for deliveries. It has also created newer pricing packages for gig workers. The personal mobility price points start at Rs 10 as base fare and charges Rs 1.2 for every minute used. The gig workers get to choose long term plans that can go down to as low as Rs 2/km.

Magna International found using ticker (MGA) now have 15 analysts covering the stock with the consensus suggesting a rating of ''Buy''. The range between the high target price and low target price is between 127 and 88 and has a mean target at 107.2. Now with the previous closing price of 79.66 this would imply there is a potential upside of 34.6%. The 50 day MA is 80.9 and the 200 day MA is 84.81. The market capitalisation for the company is $23,997m. You can visit the company''s website by visiting: https://www.magna.com [stock_market_widget type="chart" symbol="MGA" chart="bar" range="6mo" interval="1d" line-color="rgb(49, 125, 189)"] The potential market cap would be $32,293m based on the market concensus. Magna International Inc. designs, engineers, and manufactures components, assemblies, systems, subsystems, and modules for original equipment manufacturers of vehicles and light trucks worldwide. The company operates through four segments: Body Exteriors & Structures, Power & Vision, Seating Systems, and Complete Vehicles.

Magna International (NYSE:MGA) declares $0.45/share quarterly dividend, 4.7% increase from prior dividend of $0.43.Forward yield 2.3%Payable March 11; for shareholders of record Feb.

This article was originally published on TipRanks.com Mobility technology company for automakers Magna International Inc. The post Magna International Posts Disappointing Q4 Results; Shares Drop 6.5% appeared first on Smarter Analyst .

Equities in Canadas largest centre closed the week pretty much the way they entered the Friday Session, mostly as gold stocks enjoyed tremendous success. The S&P/TSX Composite finished in the green 17.12 points to conclude Friday, at 21,548.84. On the week, the change amounted to 312 points to the good, or 1.47%. The Canadian dollar backed off 0.05 cents at 78.49 cents U.S. Consumer stocks weighed on the markets, as Canada Goose took it on the chin $2.32, or 6.3%, to $34.18, while Magna International lost $6.47, or 6.3%, to $96.58. Among techs, Lightspeed POS dipped $3.24, or 7.9%, to $37.82, while HUT 8 Mining shed 65 cents, or 6.8%, to $9.08. Industrials also fared badly, as WSP Global fell $8.43, or 5%, to $161.00, and GFL Environmental retreated $1.76, or 4.3%, to $39.47. Gold stocks led the charge upward, as Eldorado Gold jumped 96 cents, or 8.1%, to $12.78, while Iamgold added 32 cents, or 9.6%, to $3.67. Energy stocks also muscled up, with Vermilion popping $1.67, or 8.2%, to $22.29, while Baytex Energy moved 27 cents, or 5.7%, higher, to $5.20.

AURORA, ONT. — Canadian auto parts manufacturer Magna International Inc. says it is beginning to feel the impact of the Ambassador Bridge blockades on its business.