Meritor Rating Reiterated by Zacks (MTOR)
Meritor (NASDAQ:MTOR)‘s stock had its “outperform” rating restated by Zacks in a research note issued to investors on Monday. They currently have a $15.00 price target on the stock. Zacks‘s price target would indicate a potential upside of 17.83% from the company’s current price.
Zacks’ analyst wrote, “Meritor reported adjusted income of $0.28 per share in the third quarter of fiscal 2014, which surpassed the Zacks Consensus Estimate of $0.15. Revenues fell 0.7% year over year to $986 million, beating the Zacks Consensus Estimate of $977 million. The year-over-year decline can be attributed to lower commercial truck production in South America and reduced revenues from the Family of Medium Tactical Vehicles program. However, revenues benefited from higher commercial truck production in North America. The company expects adjusted earnings from continuing operations to increase to $0.65- $0.75 per share in fiscal 2014. Meritor is expected to benefit from its new business collaborations, outsourcing to low-cost countries and lower interest expenses due to debt refinancing.”
A number of other analysts have also recently weighed in on MTOR. Analysts at Piper Jaffray initiated coverage on shares of Meritor in a research note on Wednesday, July 16th. They set an “overweight” rating and a $15.00 price target on the stock. Separately, analysts at Goldman Sachs cut their price target on shares of Meritor from $16.00 to $15.00 in a research note on Monday, July 14th. Finally, analysts at CRT Capital upgraded shares of Meritor from a “fair value” rating to a “buy” rating in a research note on Tuesday, June 24th. They now have a $15.00 price target on the stock, up previously from $14.00. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $13.94.
Shares of Meritor (NASDAQ:MTOR) traded up 0.67% during mid-day trading on Monday, hitting $12.815. 472,755 shares of the company’s stock traded hands. Meritor has a 52 week low of $6.09 and a 52 week high of $15.14. The stock has a 50-day moving average of $13. and a 200-day moving average of $12.39. The company has a market cap of $1.296 billion and a P/E ratio of 4.38.
Meritor (NASDAQ:MTOR) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.13. The company had revenue of $986.00 million for the quarter, compared to the consensus estimate of $974.85 million. During the same quarter in the previous year, the company posted $0.34 earnings per share. The company’s revenue for the quarter was down .7% on a year-over-year basis. On average, analysts predict that Meritor will post $0.64 earnings per share for the current fiscal year.
Meritor, Inc (NASDAQ:MTOR) is a global supplier of a range of integrated systems and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors.
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