Meritor, Inc. (MTOR) Expected to Post Quarterly Sales of $837.58 Million
Wall Street analysts expect Meritor, Inc. (NYSE:MTOR) to announce $837.58 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Meritor’s earnings, with estimates ranging from $799.00 million to $866.54 million. Meritor posted sales of $728.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 15.1%. The firm is expected to report its next quarterly earnings report before the market opens on Wednesday, November 15th.
On average, analysts expect that Meritor will report full year sales of $837.58 million for the current fiscal year, with estimates ranging from $3.22 billion to $3.29 billion. For the next year, analysts expect that the firm will post sales of $3.61 billion per share, with estimates ranging from $3.59 billion to $3.64 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Meritor.
Meritor (NYSE:MTOR) last posted its quarterly earnings data on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.44 by $0.20. The firm had revenue of $920.00 million during the quarter, compared to analyst estimates of $846.19 million. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. Meritor’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS.
Several brokerages have recently weighed in on MTOR. BidaskClub upgraded shares of Meritor from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised shares of Meritor from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Tuesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $26.00 target price (up from $25.00) on shares of Meritor in a report on Tuesday, September 12th. Barclays PLC reaffirmed an “equal weight” rating and issued a $21.00 target price (up from $17.00) on shares of Meritor in a report on Tuesday, September 12th. Finally, Longbow Research reaffirmed a “buy” rating and issued a $28.00 target price (up from $22.00) on shares of Meritor in a report on Tuesday, September 19th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. Meritor has a consensus rating of “Buy” and an average target price of $25.05.
Shares of Meritor (MTOR) traded down 0.61% on Friday, reaching $26.15. 772,872 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $25.00 and a 200 day moving average of $19.25. Meritor has a one year low of $9.84 and a one year high of $27.03. The firm has a market capitalization of $2.32 billion, a P/E ratio of 4.24 and a beta of 2.30.
In other Meritor news, SVP Robert H. Speed sold 4,192 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total value of $80,612.16. Following the transaction, the senior vice president now directly owns 30,000 shares of the company’s stock, valued at approximately $576,900. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.87% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Meritor by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 11,602,537 shares of the auto parts company’s stock worth $192,718,000 after purchasing an additional 447,647 shares in the last quarter. BlackRock Inc. boosted its position in shares of Meritor by 2.4% during the 2nd quarter. BlackRock Inc. now owns 6,132,756 shares of the auto parts company’s stock worth $101,865,000 after purchasing an additional 141,587 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Meritor by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,664,753 shares of the auto parts company’s stock worth $60,871,000 after purchasing an additional 94,158 shares in the last quarter. State Street Corp boosted its position in shares of Meritor by 4.2% during the 2nd quarter. State Street Corp now owns 1,873,790 shares of the auto parts company’s stock worth $31,123,000 after purchasing an additional 74,896 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Meritor by 9.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,712,306 shares of the auto parts company’s stock worth $28,442,000 after purchasing an additional 153,902 shares in the last quarter. Institutional investors own 93.47% 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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