BorgWarner Inc. (BWA) Sees Strong Trading Volume
BorgWarner Inc. (NYSE:BWA) shares saw unusually-strong trading volume on Monday . Approximately 4,048,400 shares were traded during trading, an increase of 112% from the previous session’s volume of 1,905,398 shares.The stock last traded at $35.10 and had previously closed at $34.61.
A number of equities analysts have weighed in on BWA shares. Robert W. Baird reissued a “buy” rating on shares of BorgWarner in a research report on Tuesday, June 28th. Zacks Investment Research raised BorgWarner from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. TheStreet downgraded BorgWarner from a “buy” rating to a “hold” rating in a research report on Thursday, June 2nd. Seaport Global Securities began coverage on BorgWarner in a research report on Tuesday, August 9th. They set a “neutral” rating on the stock. Finally, Buckingham Research began coverage on BorgWarner in a report on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $42.21.
The firm has a 50 day moving average of $33.53 and a 200-day moving average of $34.07. The firm has a market capitalization of $7.52 billion and a PE ratio of 12.69.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.02. During the same quarter in the previous year, the business earned $0.75 EPS. The company had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.33 billion. The company’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities analysts anticipate that BorgWarner Inc. will post $3.25 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, August 30th. This represents a $0.52 annualized dividend and a dividend yield of 1.48%.
In other news, VP Brady D. Ericson sold 16,240 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $33.77, for a total transaction of $548,424.80. Following the completion of the sale, the vice president now owns 70,156 shares in the company, valued at approximately $2,369,168.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brady D. Ericson sold 17,132 shares of the firm’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $33.69, for a total transaction of $577,177.08. Following the sale, the vice president now owns 25,502 shares of the company’s stock, valued at approximately $859,162.38. The disclosure for this sale can be found here.
BorgWarner Inc is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Drivetrain segment’s products include transmission components and systems, all-wheel drive (AWD) torque transfer systems and rotating electrical devices.