BorgWarner Inc. (BWA) Expected to Post Quarterly Sales of $2.21 Billion
Wall Street analysts forecast that BorgWarner Inc. (NYSE:BWA) will post $2.21 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for BorgWarner’s earnings. The lowest sales estimate is $2.16 billion and the highest is $2.23 billion. BorgWarner also reported sales of $2.21 billion during the same quarter last year. The company is expected to report its next quarterly earnings report before the market opens on Thursday, October 26th.
According to Zacks, analysts expect that BorgWarner will report full year sales of $2.21 billion for the current year, with estimates ranging from $9.29 billion to $9.38 billion. For the next fiscal year, analysts forecast 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 research analysts that cover BorgWarner.
BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, July 27th. The auto parts company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.07. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.27 billion. BorgWarner had a net margin of 2.06% and a return on equity of 20.75%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 earnings per share.
BWA has been the subject of several recent research reports. Zacks Investment Research downgraded shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Wednesday, August 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $56.00 price objective on shares of BorgWarner in a report on Tuesday, August 29th. BMO Capital Markets reaffirmed an “outperform” rating and set a $55.00 price objective (up from $50.00) on shares of BorgWarner in a report on Friday, July 28th. Bank of America Corporation reaffirmed an “underperform” rating and set a $27.00 price objective (down from $30.00) on shares of BorgWarner in a report on Friday, June 16th. Finally, ValuEngine downgraded shares of BorgWarner from a “strong-buy” rating to a “buy” rating in a report on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. BorgWarner has an average rating of “Hold” and an average price target of $44.20.
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Shares of BorgWarner (NYSE BWA) opened at 52.06 on Friday. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 58.04 and a beta of 1.76. BorgWarner has a 1-year low of $33.09 and a 1-year high of $52.71. The stock’s 50 day moving average is $47.74 and its 200-day moving average is $43.86.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, September 1st were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend was Wednesday, August 30th. BorgWarner’s payout ratio is currently 62.92%.
In related news, EVP Tonit M. Calaway sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $44.99, for a total transaction of $134,970.00. Following the completion of the transaction, the executive vice president now directly owns 34,120 shares in the company, valued at approximately $1,535,058.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brady D. Ericson sold 11,052 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total transaction of $501,539.76. Following the transaction, the insider now owns 23,418 shares of the company’s stock, valued at $1,062,708.84. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its stake in BorgWarner by 6.8% during the 1st quarter. Van ECK Associates Corp now owns 2,702 shares of the auto parts company’s stock valued at $113,000 after purchasing an additional 171 shares during the last quarter. CENTRAL TRUST Co raised its stake in BorgWarner by 5.3% during the 2nd quarter. CENTRAL TRUST Co now owns 2,679 shares of the auto parts company’s stock valued at $114,000 after purchasing an additional 135 shares during the last quarter. SRS Capital Advisors Inc. raised its stake in BorgWarner by 13.7% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,929 shares of the auto parts company’s stock valued at $122,000 after purchasing an additional 354 shares during the last quarter. Exane Derivatives acquired a new position in BorgWarner during the 2nd quarter valued at $135,000. Finally, Global X Management Co. LLC raised its stake in BorgWarner by 29.9% during the 1st quarter. Global X Management Co. LLC now owns 3,694 shares of the auto parts company’s stock valued at $154,000 after purchasing an additional 851 shares during the last quarter. Hedge funds and other institutional investors own 91.09% of the company’s stock.
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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