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Magna International Inc. (MGA) 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.
Its Body Exteriors & Structures segment provides body and chassis systems, as well as engineering and testing services; exterior systems, including fascia and trims, front end modules, front integration panels, liftgate modules, active aerodynamics, engineered glass, running boards, truck bed access products, and side doors; and roof systems, such as modular and textile folding roofs, and hard and soft tops.
The company's Power & Vision segment offers dedicated hybrid, dual and e-clutch, and manual transmissions; engine drive plates and accessories; AWD/4WD products, rear drive modules, and hybrid and battery electric drive systems; transmission, engine, and driveline components; advanced driver assistance systems, camera systems, ultrasonic sensors, and electronic controllers; interior and exterior mirrors, actuators, door handles, overhead consoles, and camera monitoring systems; head, tail, and fog lamps; signal and other lighting products; and latching systems, door modules, window systems, power closure systems, hinges and wire forming, and handle assemblies.
Its Seating Systems segment provides seat structures, mechanism and hardware solutions, and foam and trim products.
The company's Complete Vehicles segment offers vehicle manufacturing and engineering services. It also designs, engineers, and manufactures tooling products.
Magna International reported 1st Quarter March 2021 earnings of $1.86 per share on revenue of $10.2 billion. The consensus earnings estimate was $1.57 per share on revenue of $9.5 billion. Revenue grew 17.6% on a year-over-year basis.
The company said it expects 2021 revenue of $40.2 billion to $41.8 billion. The company's previous guidance was revenue of $40.0 billion to $41.6 billion and the current consensus revenue estimate is $40.45 billion for the year ending December 31, 2021.
As the company favored to get the contract from Apple to make it future manufacturers this stock is sure to grow.
Entry Point: $99.75
Stop Loss: $94.75
Trading Range: $41.17 - $100.71
Target Price: $109.75
