Friday, May 9, 2025

Magna: BMO Expects A Poor Quarter After Conducting Channel Checks

Magna International (TSX: MG) is expected to report its third-quarter financial results on November 5th before the market opens. Out of 11 analysts, revenue is expected to be US$7.98 million. Another 11 analysts have a consensus of US$0.60 in earnings per share.

There are 10 analysts covering Magna International with an average 12-month price target of US$106.59. Out of the 10 analysts, 1 has a strong buy rating, 8 have buys and 1 analyst has a hold rating. The street high price target sits at US$126.65 while the lowest comes in at US$82.

In BMO Capital Markets earnings preview they reiterated their Outperform rating but slightly lowered their 12-month price target from US$100 to US$98, saying that they have reduced their third quarter, 2021, and 2022 estimates.

According to BMO’s channel checks, they note that Detroit Three’s production has decreased by 30%, more than their prior 20% estimate. While Western European production decreased by 32% year over year, once again higher than their previous estimate.

They base their forecasts primarily on their North America data which shows that all but one platform has had a decrease in production units year over year. General Motors production has been getting hit the most, which is down between 17 and 93 percent.

The data for Europe does not look that good either, with every single one of Magna’s European platforms being negative on a year-over-year production basis.


Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Endeavour Mining Q1 Earnings: Cash Flow Is King

G Mining Oko West Feasibility: Move Fast, Break.. Nothing?

New Gold Q1 Earnings: What’s Behind The Market’s Surprising Reaction?

Recommended

First Majestic Posts Record Cash Flows In Q1 As Production Costs Fall

Brazil Potash Secures Funding In Support Of US$2.5 Billion Autozales Project

Related News

Verano Holdings: Analysts Expect $122 Million In EBITDA For Q2

Verano Holdings (CSE: VRNO) announced that they will be reporting their second quarter financials before...

Sunday, August 8, 2021, 05:10:00 PM

K92 Mining: Canaccord Raises Target To $12.50 From $8.75

Yesterday morning Canaccord analyst Tom Gallo upgraded his twelve-month price target on K92 Mining (TSXV:...

Wednesday, October 7, 2020, 12:33:00 PM

Canopy Growth Sees Canaccord Cut Price Target To Just $4.50 After Terrible Q4 Results

On May 27, Canopy Growth (TSX: WEED) reported its fiscal fourth-quarter financial results for the...

Sunday, June 5, 2022, 11:18:00 AM

Filo Mining: BMO Lifts Price Target To $28 Following Assay Results

This past week, Filo Mining Corp. (TSX: FIL) reported its updated assay results from three...

Sunday, April 24, 2022, 05:01:00 PM

Tilray: Cantor Lowers Price Target, Walks Back Coca-Cola Comments

Last week, Cantor Fitzgerald updated their estimates on a bundle of Canadian License Producers. In...

Thursday, September 23, 2021, 03:23:00 PM