{"id":45689,"date":"2018-11-21T22:37:00","date_gmt":"2018-11-21T22:37:00","guid":{"rendered":"https:\/\/wp2.inovestor.com\/2018\/11\/magna-international-inc-mg-2\/"},"modified":"2018-11-22T22:44:00","modified_gmt":"2018-11-22T22:44:00","slug":"magna-international-inc-mg-2","status":"publish","type":"post","link":"https:\/\/www.inovestor.com\/fr-ca\/2018\/11\/magna-international-inc-mg-2\/","title":{"rendered":"Magna International Inc. (MG)"},"content":{"rendered":"

Dans l’analyse de contenu d’aujourd’hui (T\u00e8l\u00e8charger<\/a>), nous nous int\u00e8ressons \u00e0 Magna International Inc., que nous d\u00e8tenons dans le portefeuille mod\u00e8le Canadien depuis le 31 D\u00e8cembre 2012.<\/span><\/p>\n

Magna International Inc. est une entreprise canadienne sp\u00e8cialis\u00e8e dans l’\u00e8quipement automobile et l’un des leaders de la sous-traitance mondiale automobile de 1er<\/sup> rang. Le groupe Magna International Inc inclue notamment Magna Steyr, Magna Powertrain, Magna Exteriors, Magna Seating, Magna Closures, Magna Mirrors, Magna Electronics et Cosma International.<\/span><\/p>\n

Nous avons r\u00e8cemment beaucoup entendu parler de la compagnie, dans les actualit\u00e8s, principalement d\u00fb au conflit familial entre Frank Stronach et sa fille. Cela a port\u00e8 un regard plut\u221a\u00a5t n\u00e8gatif sur la compagnie de mani\u00e8re g\u00e8n\u00e8rale, cependant, les op\u00e8rations financi\u00e8res du g\u00e8ant de pi\u00e8ces automobiles, refl\u00e8tent la robustesse et la stabilit\u00e8 de la compagnie.<\/span><\/p>\n

R\u00e8sultats du T3 2018 :<\/span><\/span><\/p>\n

MG a d\u00e8clar\u00e8 un BPA de 1,56$ (contre 1,49$ de pr\u00e8vu) sur des revenus de 9,6 G$ (contre 9,8 G$ de pr\u00e8vu). Les r\u00e8sultats sont en hausse par rapport \u00e0 l’ann\u00e8e derni\u00e8re, \u00e0 la m\u00eame p\u00e8riode (BPA de 1.39$ et revenues de 8.9 G$). L’EBIT (B\u00e8n\u00e8fice avant int\u00e8r\u00eats et imp\u221a\u00a5ts) a diminu\u00e8 de 705 M$ \u00e0 699 M$. Magna International Inc a r\u00e8duit ses pr\u00e8dictions en termes de ventes totales, en effet, leurs attentes se portaient entre 40,3 G$ et 41,4 G$ (avec un profit entre 2,3 G$ et 2,4 G$), contre une pr\u00e8c\u00e8dente estimation \u00e0 hauteur de 40,30 G$ – 42,5 G$ (un profit entre 2,3 G$ et 2,3 G$). On note une croissance des ventes au sein de chaque d\u00e8partement.<\/span><\/p>\n

Analyse EVA :<\/span><\/span><\/p>\n

Avec un SP Score de 72, MG, d\u00e8tient un des SP Score les plus \u00e8lev\u00e8s de la base de donn\u00e8es. Cela nous permet de qualifier la compagnie de qualit\u00e8 et de valeur \u00e0 prix raisonnable. En effet, l’action se n\u00e8gocie sous sa valeur intrins\u00e8que, \u00e0 un ratio de 0,59 cours valeur intrins\u00e8que. La valeur de croissance future (FGV) de -29% nous indique que la valeur de l’entreprise est plus basse que sa valeur d’exploitation, le titre est sous-\u00e8valu\u00e8 selon cette mesure.<\/span><\/p>\n

On constate une croissance constante approximative de 10% du NOPAT (Profit d’Op\u00e8rations apr\u00e8s imp\u221a\u00a5ts) par ann\u00e8e. Le rendement sur capital (ROC) augmente \u00e8galement depuis 2016, suivi du Co\u00fbt du Capital (COC). On constate donc une baisse de l’\u00e8cart de performance (1.64 \u00e0 1.60).<\/span><\/p>\n

La Valeur \u00c9conomique Ajout\u00e8e (EVA) est un excellent indicateur concernant la performance future et la stabilit\u00e8 d’une compagnie. En ce qui concerne MG, le taux de croissance quasi identique, des profits, et de la charge en capital, au fil des ann\u00e8es, se retrouve au niveau de la courbe de tendance lin\u00e8aire au niveau de l’EVA (TTM). Constance et faible volatilit\u00e8.<\/span><\/p>\n

La baisse de 5,2 % du nombre d’actions en circulation (en moyenne par ann\u00e8e) est expliqu\u00e8e par le rachat d’actions agressif que MG a subi. Cependant on constate positivement que ceci permet \u00e0 la valeur intrins\u00e8que par action de croitre.<\/span><\/p>\n

<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Dans l’analyse de contenu d’aujourd’hui (T\u00e8l\u00e8charger), nous nous int\u00e8ressons \u00e0 Magna International Inc., que nous d\u00e8tenons dans le portefeuille mod\u00e8le Canadien depuis le 31 D\u00e8cembre 2012. Magna International Inc. est une entreprise canadienne sp\u00e8cialis\u00e8e dans l’\u00e8quipement automobile et l’un des leaders de la sous-traitance mondiale automobile de 1er rang. Le groupe Magna International Inc inclue […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[195],"class_list":["post-45689","post","type-post","status-publish","format-standard","hentry","category-intelligence","tag-mg"],"acf":[],"yoast_head":"\nMagna International Inc. 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