Credit Suisse Initiates Coverage on BorgWarner (BWA)
Equities researchers at Credit Suisse assumed coverage on shares of BorgWarner (NYSE:BWA) in a research report issued on Wednesday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating on the stock.
BWA has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of BorgWarner in a research note on Monday, August 4th. They now have a $64.00 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of BorgWarner from $75.00 to $78.00 in a research note on Friday, August 1st. Finally, analysts at Deutsche Bank reiterated a “hold” rating on shares of BorgWarner in a research note on Friday, August 1st. They now have a $63.00 price target on the stock, up previously from $60.00. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $75.36.
Shares of BorgWarner (NYSE:BWA) traded up 0.92% during mid-day trading on Wednesday, hitting $62.23. 905,909 shares of the company’s stock traded hands. BorgWarner has a one year low of $47.145 and a one year high of $67.49. The stock has a 50-day moving average of $64.50 and a 200-day moving average of $61.70. The company has a market cap of $14.214 billion and a P/E ratio of 21.56.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.87 by $0.02. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. The company’s quarterly revenue was up 16.0% on a year-over-year basis. On average, analysts predict that BorgWarner will post $3.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, August 28th. This is an increase from BorgWarner’s previous quarterly dividend of $0.13.
In other BorgWarner news, VP John J. Gasparovic sold 60,000 shares of the company’s stock on the open market in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $61.00, for a total value of $3,660,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
BorgWarner Inc, is a global supplier of engineered automotive systems and components primarily for powertrain applications.
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