Meritor, Inc. (MTOR) Expected to Post Quarterly Sales of $819.36 Million
Brokerages expect that Meritor, Inc. (NYSE:MTOR) will announce sales of $819.36 million for the current quarter, according to Zacks. Three analysts have made estimates for Meritor’s earnings. The lowest sales estimate is $799.00 million and the highest is $832.89 million. Meritor reported sales of $728.00 million in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 15th.
According to Zacks, analysts expect that Meritor will report full-year sales of $819.36 million for the current financial year, with estimates ranging from $3.10 billion to $3.26 billion. For the next year, analysts forecast that the business will report sales of $3.51 billion per share, with estimates ranging from $3.47 billion to $3.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Meritor.
Meritor (NYSE:MTOR) last posted its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.20. Meritor had a net margin of 17.03% and a negative return on equity of 106.67%. The business had revenue of $920.00 million during the quarter, compared to the consensus estimate of $846.19 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm’s revenue was up 9.4% on a year-over-year basis.
A number of research firms have issued reports on MTOR. BidaskClub raised shares of Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday. Barclays PLC reaffirmed an “equal weight” rating and issued a $21.00 price target (up previously from $17.00) on shares of Meritor in a report on Tuesday, September 12th. Buckingham Research began coverage on shares of Meritor in a report on Tuesday, September 5th. They issued a “buy” rating and a $25.00 price target for the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $25.00 price target on shares of Meritor in a report on Tuesday, September 5th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $37.00 price target (up previously from $23.00) on shares of Meritor in a report on Tuesday, September 19th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $24.25.
In related news, SVP Robert H. Speed sold 4,192 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $19.23, for a total transaction of $80,612.16. Following the completion of the transaction, the senior vice president now owns 30,000 shares of the company’s stock, valued at $576,900. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.87% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System grew its position in Meritor by 1.4% during the first quarter. New York State Teachers Retirement System now owns 7,300 shares of the auto parts company’s stock valued at $125,000 after buying an additional 100 shares during the period. Amalgamated Bank grew its position in Meritor by 2.7% during the second quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock valued at $176,000 after buying an additional 281 shares during the period. Bank of Montreal Can grew its position in Meritor by 2.6% during the first quarter. Bank of Montreal Can now owns 11,426 shares of the auto parts company’s stock valued at $196,000 after buying an additional 289 shares during the period. The Manufacturers Life Insurance Company grew its position in Meritor by 0.7% during the second quarter. The Manufacturers Life Insurance Company now owns 64,141 shares of the auto parts company’s stock valued at $1,065,000 after buying an additional 439 shares during the period. Finally, Principal Financial Group Inc. grew its position in Meritor by 3.5% during the second quarter. Principal Financial Group Inc. now owns 15,572 shares of the auto parts company’s stock valued at $259,000 after buying an additional 528 shares during the period. Institutional investors own 93.23% of the company’s stock.
Meritor Company Profile
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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