Federal-Mogul Holdings Corp. (FDML) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “FEDERAL MOGUL CORPORATION is a leading global supplier of powertrain, chassis and safety technologies, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its sustainable global profitable growth strategy, creating value and satisfaction for its customers, shareholders and employees. Federal-Mogul was founded in Detroit in 1899. The company is headquartered in Southfield, Michigan, and employs 50,000 people in 35 countries. “
Separately, FBR & Co boosted their price objective on Federal-Mogul Holdings Corp. from $7.00 to $8.00 and gave the stock a mkt perform rating in a research note on Tuesday, June 21st. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Federal-Mogul Holdings Corp. presently has an average rating of Hold and an average price target of $9.92.
Shares of Federal-Mogul Holdings Corp. (NASDAQ:FDML) opened at 9.40 on Wednesday. The company’s market capitalization is $1.59 billion. Federal-Mogul Holdings Corp. has a 52 week low of $3.81 and a 52 week high of $10.00. The company’s 50 day moving average price is $9.11 and its 200-day moving average price is $8.92.
Federal-Mogul Holdings Corp. (NASDAQ:FDML) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by $0.04. Federal-Mogul Holdings Corp. had a positive return on equity of 15.64% and a negative net margin of 0.74%. The firm had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter last year, the firm posted $0.35 earnings per share. Federal-Mogul Holdings Corp.’s quarterly revenue was down 1.9% on a year-over-year basis. Analysts anticipate that Federal-Mogul Holdings Corp. will post $1.00 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. KCG Holdings Inc. bought a new stake in Federal-Mogul Holdings Corp. during the second quarter worth about $104,000. Bayesian Capital Management LP bought a new stake in Federal-Mogul Holdings Corp. during the first quarter worth about $110,000. BlackRock Advisors LLC raised its stake in Federal-Mogul Holdings Corp. by 2.4% in the second quarter. BlackRock Advisors LLC now owns 13,319 shares of the company’s stock worth $111,000 after buying an additional 309 shares during the period. Zacks Investment Management bought a new stake in Federal-Mogul Holdings Corp. during the second quarter worth about $123,000. Finally, BlackRock Group LTD raised its stake in Federal-Mogul Holdings Corp. by 106.3% in the second quarter. BlackRock Group LTD now owns 17,808 shares of the company’s stock worth $148,000 after buying an additional 9,174 shares during the period. Institutional investors and hedge funds own 98.40% of the company’s stock.
Federal-Mogul Holdings Corp. Company Profile
Federal-Mogul Holdings Corp, formerly Federal-Mogul Corporation, is a global supplier of technology and innovation in vehicle and industrial products for fuel economy, emissions reduction and safety systems. The Company serves original equipment manufacturers (OEM) and servicers (OES) (collectively OE) of automotive, light, medium and heavy-duty commercial vehicles, off-road, agricultural, marine, rail, aerospace, power generation and industrial equipment, as well as the worldwide aftermarket.
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