Meritor, Inc. (MTOR) Expected to Announce Quarterly Sales of $841.04 Million
Equities research analysts expect Meritor, Inc. (NYSE:MTOR) to announce $841.04 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Meritor’s earnings. The highest sales estimate is $846.42 million and the lowest is $837.00 million. Meritor reported sales of $841.00 million in the same quarter last year, which indicates a positive year over year growth rate of 0%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, August 2nd.
On average, analysts expect that Meritor will report full-year sales of $841.04 million for the current financial year, with estimates ranging from $3.10 billion to $3.15 billion. For the next year, analysts anticipate that the company will report sales of $3.37 billion per share, with estimates ranging from $3.36 billion to $3.40 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Meritor.
Meritor (NYSE:MTOR) last announced its quarterly earnings results on Wednesday, May 3rd. The auto parts company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.01. The firm had revenue of $806 million for the quarter, compared to analyst estimates of $785.42 million. Meritor had a net margin of 17.24% and a negative return on equity of 49.82%. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share.
MTOR has been the subject of a number of analyst reports. Zacks Investment Research upgraded Meritor from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday. BidaskClub raised Meritor from a “hold” rating to a “buy” rating in a research report on Thursday, July 13th. Royal Bank Of Canada started coverage on Meritor in a research report on Monday, May 15th. They issued an “outperform” rating and a $22.00 price objective for the company. Finally, ValuEngine raised Meritor from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $16.71.
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Shares of Meritor (NYSE MTOR) traded down 0.28% during midday trading on Wednesday, hitting $17.99. The stock had a trading volume of 86,777 shares. The company has a market capitalization of $1.59 billion, a PE ratio of 2.94 and a beta of 2.21. Meritor has a one year low of $7.88 and a one year high of $18.40. The firm’s 50-day moving average is $16.63 and its 200 day moving average is $16.20.
In other Meritor news, Director William R. Newlin purchased 5,934 shares of the firm’s stock in a transaction dated Monday, May 8th. The shares were bought at an average price of $16.84 per share, for a total transaction of $99,928.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.87% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC bought a new position in shares of Meritor during the second quarter valued at approximately $186,000. Aperio Group LLC increased its position in shares of Meritor by 4.1% in the second quarter. Aperio Group LLC now owns 43,462 shares of the auto parts company’s stock valued at $722,000 after buying an additional 1,700 shares during the last quarter. James Investment Research Inc. increased its position in shares of Meritor by 5.4% in the second quarter. James Investment Research Inc. now owns 131,560 shares of the auto parts company’s stock valued at $2,186,000 after buying an additional 6,693 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Meritor during the second quarter valued at approximately $277,000. Finally, Fox Run Management L.L.C. bought a new position in shares of Meritor during the second quarter valued at approximately $188,000. Institutional investors and hedge funds own 92.75% of the company’s stock.
Meritor Company Profile
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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