Analysts expect BorgWarner Inc. (NYSE:BWA) to post sales of $2.56 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for BorgWarner’s earnings, with the highest sales estimate coming in at $2.62 billion and the lowest estimate coming in at $2.52 billion. BorgWarner posted sales of $2.69 billion during the same quarter last year, which suggests a negative year over year growth rate of 4.8%. The company is expected to announce its next earnings results on Thursday, July 25th.
On average, analysts expect that BorgWarner will report full-year sales of $10.30 billion for the current year, with estimates ranging from $10.14 billion to $10.40 billion. For the next fiscal year, analysts expect that the firm will post sales of $10.88 billion, with estimates ranging from $10.66 billion to $11.07 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow BorgWarner.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, April 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.94 by $0.06. BorgWarner had a return on equity of 21.64% and a net margin of 8.39%. The firm had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period last year, the business posted $1.10 earnings per share. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis.
Several brokerages recently issued reports on BWA. ValuEngine cut BorgWarner from a “sell” rating to a “strong sell” rating in a research note on Monday, May 13th. Bank of America restated a “neutral” rating and set a $46.00 price objective (up from $42.00) on shares of BorgWarner in a research note on Tuesday, April 23rd. Robert W. Baird upgraded BorgWarner to a “top pick” rating in a research note on Friday, February 15th. Zacks Investment Research cut BorgWarner from a “hold” rating to a “sell” rating in a research note on Monday, February 25th. Finally, Morgan Stanley set a $53.00 price objective on BorgWarner and gave the stock a “buy” rating in a research note on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $48.75.
Shares of BWA opened at $35.47 on Tuesday. BorgWarner has a 12-month low of $32.46 and a 12-month high of $52.56. The firm has a market cap of $7.32 billion, a P/E ratio of 7.92, a PEG ratio of 1.12 and a beta of 1.74. The company has a current ratio of 1.62, a quick ratio of 1.27 and a debt-to-equity ratio of 0.44.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, May 31st. BorgWarner’s dividend payout ratio is presently 15.18%.
In other BorgWarner news, EVP Tonit M. Calaway sold 12,000 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $41.93, for a total value of $503,160.00. Following the sale, the executive vice president now directly owns 28,066 shares of the company’s stock, valued at $1,176,807.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Mcgill sold 2,400 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $41.97, for a total value of $100,728.00. Following the completion of the sale, the chief financial officer now directly owns 32,958 shares in the company, valued at $1,383,247.26. The disclosure for this sale can be found here. Insiders sold 23,524 shares of company stock worth $967,536 over the last ninety days. 0.75% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. increased its position in BorgWarner by 118.5% in the first quarter. Rockefeller Capital Management L.P. now owns 651 shares of the auto parts company’s stock worth $25,000 after buying an additional 353 shares during the period. Proficio Capital Partners LLC increased its position in BorgWarner by 247.8% in the fourth quarter. Proficio Capital Partners LLC now owns 939 shares of the auto parts company’s stock worth $33,000 after buying an additional 669 shares during the period. CSat Investment Advisory L.P. increased its position in BorgWarner by 93.2% in the fourth quarter. CSat Investment Advisory L.P. now owns 999 shares of the auto parts company’s stock worth $35,000 after buying an additional 482 shares during the period. Bremer Bank National Association acquired a new stake in BorgWarner in the first quarter worth $44,000. Finally, Bremer Trust National Association acquired a new position in shares of BorgWarner during the fourth quarter valued at $47,000. 89.86% of the stock is currently owned by hedge funds and other institutional investors.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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