BorgWarner Inc. (NYSE:BWA) Updates FY17 Earnings Guidance
BorgWarner Inc. (NYSE:BWA) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.65-3.70 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.58. The company issued revenue guidance of $9.28-9.38 billion, compared to the consensus revenue estimate of $9.11 billion.BorgWarner also updated its Q3 guidance to $0.84-0.87 EPS.
BorgWarner Inc. (NYSE BWA) traded up 2.79% on Thursday, reaching $47.14. The company had a trading volume of 1,210,187 shares. BorgWarner Inc. has a 12-month low of $31.49 and a 12-month high of $48.03. The stock has a market capitalization of $10.00 billion, a P/E ratio of 70.15 and a beta of 1.72. The stock’s 50-day moving average price is $43.60 and its 200-day moving average price is $41.79.
BorgWarner (NYSE:BWA) last issued its earnings results on Thursday, July 27th. The auto parts company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.89 by $0.07. BorgWarner had a return on equity of 20.10% and a net margin of 1.56%. The business had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.27 billion. During the same quarter last year, the company earned $0.84 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, equities research analysts anticipate that BorgWarner Inc. will post $3.58 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.22%. BorgWarner’s dividend payout ratio is currently 86.16%.
A number of analysts have recently issued reports on the company. BidaskClub downgraded BorgWarner from a strong-buy rating to a buy rating in a research report on Monday. Zacks Investment Research upgraded BorgWarner from a sell rating to a hold rating in a research report on Tuesday, July 18th. Royal Bank Of Canada reiterated a hold rating and set a $44.00 price target on shares of BorgWarner in a research report on Wednesday, July 12th. Guggenheim assumed coverage on BorgWarner in a research report on Wednesday, June 21st. They set a neutral rating and a $45.00 price target for the company. Finally, Bank of America Corporation reiterated an underperform rating and set a $27.00 price target (down previously from $30.00) on shares of BorgWarner in a research report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $41.25.
In other BorgWarner news, insider Ronald T. Hundzinski sold 3,776 shares of BorgWarner stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $41.53, for a total value of $156,817.28. Following the transaction, the insider now directly owns 141,958 shares of the company’s stock, valued at approximately $5,895,515.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dennis C. Cuneo sold 1,000 shares of BorgWarner stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $44.06, for a total value of $44,060.00. Following the completion of the transaction, the director now directly owns 13,398 shares in the company, valued at $590,315.88. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.
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BorgWarner Inc is engaged in providing technology solutions for combustion, hybrid and electric vehicles. The Company’s segments include Engine and Drivetrain. The Engine segment’s products include turbochargers, timing devices and chains, emissions systems and thermal systems. The Engine segment develops and manufactures products for gasoline and diesel engines, and alternative powertrains.
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