Dear Mr. McKeough: I hold Magna International and Methanex in my portfolio. Could you please advise me if I should still hold them or sell them? Thanks for your continuous valuable advice. I deeply appreciate it. Thanks.
Magna International, $84.26, symbol MG on Toronto (Shares outstanding: 233.4 million; Market cap: $19.7 billion; www.magna.com), is a leading global automotive supplier, with 314 plants and 89 product-development, engineering and sales centres in 29 countries. Magna specializes in making vehicle components, such as chassis, interiors, exteriors, seats, electronics, mirrors and roof systems.
In the three months ended June 30, 2013, Magna’s revenue rose 16.0%, to $9.0 billion from $7.7 billion a year earlier. Earnings per share rose 20.0%, to $1.80 from $1.50.
Magna continues to see steady demand for its products and services in North America. As well, its cost cuts are raising profit margins in Europe, despite ongoing weakness there. Emerging market sales are also growing.
The company aims to expand beyond its traditional markets. For example, it bought Germany-based Ixetic, which makes automotive pumps, in November 2012. That purchase came shortly after it took full control of a partnership that will make parts for electric cars.
The stock trades at 13.8…
Privacy Policy and Terms of Use
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
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