Brokerages forecast that Meritor Inc (NYSE:MTOR) will report $1.01 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Meritor’s earnings. The lowest sales estimate is $1.00 billion and the highest is $1.03 billion. Meritor posted sales of $922.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.5%. The business is expected to issue its next earnings results on Wednesday, November 21st.

According to Zacks, analysts expect that Meritor will report full year sales of $4.11 billion for the current fiscal year, with estimates ranging from $4.10 billion to $4.13 billion. For the next financial year, analysts anticipate that the company will report sales of $4.30 billion per share, with estimates ranging from $4.23 billion to $4.34 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Meritor.

Meritor (NYSE:MTOR) last announced its earnings results on Wednesday, August 1st. The auto parts company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.11. The company had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Meritor had a net margin of 8.06% and a return on equity of 88.32%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.64 earnings per share.

A number of equities analysts have issued reports on MTOR shares. Zacks Investment Research cut shares of Meritor from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 30th. Barclays boosted their price objective on shares of Meritor from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, August 2nd. ValuEngine raised shares of Meritor from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. TheStreet raised shares of Meritor from a “c+” rating to a “b-” rating in a research report on Friday, August 24th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $37.00 price objective on shares of Meritor in a research report on Wednesday, August 1st. Six analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $28.68.

In other news, CEO Jeffrey A. Craig sold 34,678 shares of the business’s stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $21.84, for a total value of $757,367.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.32% of the company’s stock.

Large investors have recently bought and sold shares of the company. Mutual Advisors LLC increased its position in Meritor by 10.2% during the second quarter. Mutual Advisors LLC now owns 54,200 shares of the auto parts company’s stock worth $1,115,000 after purchasing an additional 5,000 shares during the last quarter. Northern Trust Corp increased its position in Meritor by 0.6% during the first quarter. Northern Trust Corp now owns 990,689 shares of the auto parts company’s stock worth $20,368,000 after purchasing an additional 5,486 shares during the last quarter. Russell Investments Group Ltd. increased its position in Meritor by 1.5% during the first quarter. Russell Investments Group Ltd. now owns 393,566 shares of the auto parts company’s stock worth $8,091,000 after purchasing an additional 5,797 shares during the last quarter. New York State Teachers Retirement System acquired a new position in Meritor during the first quarter worth approximately $154,000. Finally, First Mercantile Trust Co. increased its position in Meritor by 87.9% during the first quarter. First Mercantile Trust Co. now owns 20,707 shares of the auto parts company’s stock worth $426,000 after purchasing an additional 9,688 shares during the last quarter. 90.83% of the stock is owned by institutional investors and hedge funds.

Shares of MTOR opened at $21.46 on Wednesday. The company has a quick ratio of 0.70, a current ratio of 1.15 and a debt-to-equity ratio of 2.41. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 11.44 and a beta of 2.41. Meritor has a 12-month low of $17.28 and a 12-month high of $29.54.

Meritor Company Profile

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Industrial; and Aftermarket & Trailer.

See Also: Outstanding Shares and The Effect on Share Price

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Earnings History and Estimates for Meritor (NYSE:MTOR)

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