QUOTE AND NEWS
Insurance Journal  Mar 28  Comment 
Business insurance specialist, QBE announced from London that it has “become the second major re/insurer to provide capacity to the world’s first Shariah-compliant MGA, Cobalt Underwriting. “The agreement will allow Cobalt Underwriting to...
SeekingAlpha  Mar 14  Comment 
By Glenn Rogers: I'm a little late in posting this and the stock ran up close to my target but the recent pullback gives you the opportunity to get back in if you like the market here which admittedly is tough to like at the moment with Putin...
Automotive World  Mar 12  Comment 
Magna Exteriors, an operating unit of Canada-based automotive components manufacturer Magna International, has secured new contracts to supply carbon fibre composite body panels for two new vehicles. The company will supply painted body panels...
Benzinga  Mar 7  Comment 
Analysts at TD Securities initiated coverage on shares of Magna International (NYSE: MGA) with a “buy” rating. The target price for Magna International is set to $110. Magna's shares closed at $95.73 yesterday. Deutsche Bank initiated...
Insurance Journal  Mar 6  Comment 
Specialist Lloyd’s underwriter Marketform announced that it is the first Lloyd’s Managing Agency to secure a coverholder in Lithuania, one of the fast-emerging countries in the Baltic region. “Initially the coverholder arrangement will...
Benzinga  Mar 4  Comment 
In a report released Tuesday, JP Morgan upgrades Magna International (NYSE: MGA) from Underweight to Neutral with a new price target of $102 fro $93. The report states the rating is based on the recent breakout quarter and management...
Benzinga  Mar 4  Comment 
In a report released Tuesday, analyst Patrick Archambault of Goldman Sachs boosts ratings on Magna International (NYSE: MGA) from Sell to Neutral, with a price target of $101. The report notes, "Our rationale for the Sell rating in April 2012...
Benzinga  Mar 4  Comment 
TheStreet.com  Mar 3  Comment 
NEW YORK (TheStreet) -- Car parts supplier Magna International  is popping on Monday after posting quarterly sales and earnings well above analyst consensus. By late afternoon, shares had added 5.2% to $93.77. The Canadian auto supplier...
SeekingAlpha  Mar 3  Comment 
Magna International (MGA) Q4 2013 Earnings Call March 03, 2014 8:00 am ET Executives Donald James Walker - Chief Executive Officer and Director Vincent J. Galifi - Chief Financial Officer and Executive Vice President Louis Tonelli...
StreetInsider.com  Mar 3  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Magna+International%2C+Inc.+%28MGA%29+Tops+Q4+EPS+by+39c/9234572.html for the full story.




 
TOP CONTRIBUTORS

Magna International Inc. is a leading component manufacturer, supplier of all wheel drive systems, and vehicle assembler. The company is one of the largest North American suppliers of original equipment components, assemblies, modules and systems, and related tools for cars and light trucks. The company is also a global supplier of technologically advanced automotive components, systems and modules. The company designs, engineers and manufactures a range of exterior, interior and powertrain systems. Magna also provides vehicle design, engineering, assembly and program management services to its customers. The company's operations are conducted through its global automotive systems groups. The company operates through three segments: North America, Europe, and Rest of World (consisting of primarily South America an Asia). DaimlerChrysler, Ford, and General Motors are the major customers of the company, collectively accounting for around 70% of Magna's revenue.


Magna enjoys a strong competitive position in the industry as it is one of the few providers of a complete range of interior and exterior auto systems to global auto companies. Increasing content per vehicle (CPV) is the main driver of Magna's growth. CPVs in both North America and Europe have been increasing over time.

The company is a major provider of interior and exterior systems to automotive companies. Some of the prominent new product launches driving CPV growth include Chevy Equinox, Chevy Cobalt, SAAB 9-3 and BMW X3. The key platforms boosting CPV growth rate in North America are Chrysler minivans, Chrysler Pacifica, Chrysler 300, 300c, and Ford F-150. Simultaneously in Europe, the Mercedes B class, Honda Civic, BMW01 series, and Land Rover discovery are supporting CPV growth. Recently, Magna agreed to develop and produce the MINI sports activity vehicle for the BMW Group. With this, the company expects its annual sales to be more than $1 billion. Magna also has a strong balance sheet with cash and cash equivalents amounting to $1.7 billion.

The company has strong relationships with GM, Ford, and DaimlerChrysler. It has been recognized as an important supplier by all these automakers. Additionally, the bankruptcy filing by the component supplier Delphi Corporation has provided Magna with various business opportunities. Moreover, MGA has been awarded the transfer case business by Nissan. These trends make us believe that MGA will gain new businesses in the coming quarters. Further, GM has launched new full-size SUVs that will further strengthen demand for MGA's product line.




References

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