Gabelli Comments on BorgWarner Inc.’s FY2017 Earnings (BWA)
BorgWarner Inc. (NYSE:BWA) – Research analysts at Gabelli lifted their FY2017 earnings per share (EPS) estimates for BorgWarner in a report released on Friday. Gabelli analyst B. Sponheimer now forecasts that the auto parts company will earn $3.80 per share for the year, up from their previous estimate of $3.65. Gabelli also issued estimates for BorgWarner’s FY2020 earnings at $5.00 EPS and FY2021 earnings at $5.20 EPS.
A number of other equities analysts have also recently weighed in on BWA. UBS AG upped their price objective on shares of BorgWarner from $57.00 to $60.00 and gave the stock a “buy” rating in a research report on Thursday, October 19th. Buckingham Research upped their price objective on shares of BorgWarner from $37.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of BorgWarner from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research report on Tuesday, October 17th. Barclays PLC set a $50.00 price objective on shares of BorgWarner and gave the stock a “hold” rating in a research report on Friday, October 20th. Finally, Deutsche Bank AG cut shares of BorgWarner from a “buy” rating to a “hold” rating and set a $55.00 price objective for the company. in a research report on Thursday, October 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. BorgWarner presently has a consensus rating of “Hold” and an average price target of $46.76.
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Shares of BorgWarner (NYSE:BWA) opened at 52.87 on Monday. BorgWarner has a 12 month low of $33.09 and a 12 month high of $53.84. The company has a market capitalization of $11.16 billion, a P/E ratio of 58.94 and a beta of 1.75. The stock’s 50 day moving average is $50.77 and its 200 day moving average is $45.19.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 26th. The auto parts company reported $0.95 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.07. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.26 billion. BorgWarner had a net margin of 3.09% and a return on equity of 21.48%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS.
Institutional investors and hedge funds have recently made changes to their positions in the stock. CENTRAL TRUST Co grew its holdings in shares of BorgWarner by 5.3% in the second 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 period. Exane Derivatives purchased a new stake in shares of BorgWarner in the second quarter valued at about $135,000. Rothschild Investment Corp IL purchased a new stake in shares of BorgWarner in the third quarter valued at about $205,000. Reliance Trust Co. of Delaware purchased a new stake in shares of BorgWarner in the third quarter valued at about $213,000. Finally, Pacer Advisors Inc. grew its holdings in shares of BorgWarner by 8.3% in the second quarter. Pacer Advisors Inc. now owns 4,433 shares of the auto parts company’s stock valued at $188,000 after purchasing an additional 341 shares during the period. 92.39% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Brady D. Ericson sold 11,052 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $45.38, for a total value of $501,539.76. Following the completion of the sale, the insider now directly owns 23,418 shares in the company, valued at $1,062,708.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Tonit M. Calaway sold 3,000 shares of the stock in a transaction dated 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 sale, the executive vice president now owns 34,120 shares of the company’s stock, valued at $1,535,058.80. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.
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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