BorgWarner Inc. (BWA) Expected to Earn Q3 2018 Earnings of $0.99 Per Share
BorgWarner Inc. (NYSE:BWA) – Investment analysts at Oppenheimer reduced their Q3 2018 earnings per share (EPS) estimates for BorgWarner in a note issued to investors on Friday, September 21st. Oppenheimer analyst N. Kaye now forecasts that the auto parts company will earn $0.99 per share for the quarter, down from their previous forecast of $1.04. Oppenheimer currently has a “Outperform” rating and a $63.00 target price on the stock. Oppenheimer also issued estimates for BorgWarner’s FY2020 earnings at $5.13 EPS.
Several other analysts also recently issued reports on BWA. ValuEngine downgraded BorgWarner from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. BMO Capital Markets set a $60.00 price target on BorgWarner and gave the company a “buy” rating in a research note on Thursday. Royal Bank of Canada reduced their price target on BorgWarner to $49.00 and set a “positive” rating for the company in a research note on Wednesday, September 19th. Citigroup reduced their price target on BorgWarner from $59.00 to $52.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. Finally, Wells Fargo & Co upgraded BorgWarner from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $57.00 to $56.00 in a research note on Wednesday, July 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company’s stock. BorgWarner has an average rating of “Buy” and an average target price of $56.67.
BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, July 26th. The auto parts company reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.08. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $2.71 billion. BorgWarner had a return on equity of 22.83% and a net margin of 5.11%. The firm’s revenue for the quarter was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.96 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th were issued a $0.17 dividend. The ex-dividend date was Friday, August 31st. This represents a $0.68 annualized dividend and a yield of 1.50%. BorgWarner’s dividend payout ratio is presently 17.48%.
In other BorgWarner news, EVP Tonit M. Calaway sold 4,590 shares of BorgWarner stock in a transaction on Monday, July 30th. The stock was sold at an average price of $46.01, for a total value of $211,185.90. Following the completion of the transaction, the executive vice president now directly owns 34,982 shares of the company’s stock, valued at approximately $1,609,521.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas J. Mcgill sold 3,260 shares of BorgWarner stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $44.55, for a total value of $145,233.00. The disclosure for this sale can be found here. 0.74% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in BWA. Summit Trail Advisors LLC raised its holdings in BorgWarner by 2,949.9% in the 1st quarter. Summit Trail Advisors LLC now owns 126,937 shares of the auto parts company’s stock valued at $127,000 after acquiring an additional 122,775 shares in the last quarter. Cerebellum GP LLC acquired a new position in BorgWarner in the 2nd quarter valued at $166,000. Kohmann Bosshard Financial Services LLC acquired a new position in BorgWarner in the 1st quarter valued at $173,000. Private Capital Group LLC raised its holdings in BorgWarner by 197.0% in the 1st quarter. Private Capital Group LLC now owns 3,950 shares of the auto parts company’s stock valued at $198,000 after acquiring an additional 2,620 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC acquired a new position in BorgWarner in the 1st quarter valued at $200,000. 91.62% of the stock is owned by hedge funds and other institutional investors.
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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