Zacks: Brokerages Expect BorgWarner Inc. (BWA) Will Post Quarterly Sales of $2.21 Billion
Wall Street analysts predict that BorgWarner Inc. (NYSE:BWA) will post $2.21 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for BorgWarner’s earnings, with estimates ranging from $2.16 billion to $2.23 billion. BorgWarner also reported sales of $2.21 billion during the same quarter last year. The business is scheduled to report its next earnings results on Thursday, October 26th.
On average, analysts expect that BorgWarner will report full year sales of $2.21 billion for the current financial year, with estimates ranging from $9.29 billion to $9.38 billion. For the next fiscal year, analysts expect that the business will post sales of $9.87 billion per share, with estimates ranging from $9.65 billion to $10.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover BorgWarner.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.07. BorgWarner had a return on equity of 20.75% and a net margin of 2.06%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.27 billion. During the same quarter in the previous year, the company posted $0.84 earnings per share. The business’s revenue was up 2.5% on a year-over-year basis.
Several equities research analysts have recently issued reports on BWA shares. Deutsche Bank AG raised their price target on shares of BorgWarner from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Jefferies Group LLC restated a “buy” rating and set a $50.00 price target (up previously from $48.00) on shares of BorgWarner in a research note on Saturday, April 29th. TheStreet upgraded shares of BorgWarner from a “c+” rating to a “b” rating in a research note on Monday, May 1st. BMO Capital Markets raised their price target on shares of BorgWarner from $48.00 to $50.00 and gave the stock an “outperform” rating in a research note on Monday, May 1st. Finally, Zacks Investment Research lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research note on Friday, May 19th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $42.67.
In related news, Director Dennis C. Cuneo sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $44.06, for a total value of $44,060.00. Following the completion of the transaction, the director now directly owns 13,398 shares of the company’s stock, valued at approximately $590,315.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of BorgWarner by 3.2% in the first quarter. Vanguard Group Inc. now owns 20,162,288 shares of the auto parts company’s stock valued at $842,583,000 after buying an additional 616,244 shares during the last quarter. BlackRock Inc. increased its position in shares of BorgWarner by 3,228.4% in the first quarter. BlackRock Inc. now owns 13,090,582 shares of the auto parts company’s stock valued at $547,056,000 after buying an additional 12,697,279 shares during the last quarter. Boston Partners increased its position in shares of BorgWarner by 2.2% in the second quarter. Boston Partners now owns 10,810,607 shares of the auto parts company’s stock valued at $457,937,000 after buying an additional 229,447 shares during the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of BorgWarner by 2.1% in the second quarter. Diamond Hill Capital Management Inc. now owns 8,486,663 shares of the auto parts company’s stock valued at $359,495,000 after buying an additional 176,245 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of BorgWarner by 1.4% in the first quarter. JPMorgan Chase & Co. now owns 5,408,179 shares of the auto parts company’s stock valued at $226,008,000 after buying an additional 76,928 shares during the last quarter. 92.06% of the stock is owned by institutional investors.
Shares of BorgWarner (NYSE:BWA) opened at 44.90 on Friday. The stock’s 50 day moving average price is $44.82 and its 200-day moving average price is $42.26. The company has a market cap of $9.48 billion, a PE ratio of 50.06 and a beta of 1.73. BorgWarner has a one year low of $33.09 and a one year high of $48.03.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, August 30th. BorgWarner’s dividend payout ratio (DPR) is presently 62.92%.
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BorgWarner Company Profile
BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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