Magna (MGA) Hits 52-Week Low: Should You Still Hold the Stock?

Image Source: Zacks Investment Research Weak Q1 Results: Magna reported first-quarter 2024 adjusted earnings of $1.08 per share, which declined from the year-ago quarter's $1.11 per share and also missed the Zacks Consensus Estimate of $1.28. Sales, although inching up 2.7% year over year, fell short of the consensus mark. Free cash flow was negative $270 million in the quarter as the company continues to invest heavily in the development of technologically advanced products. While that would indeed create ...