$819.36 Million in Sales Expected for Meritor, Inc. (MTOR) This Quarter
Brokerages expect that Meritor, Inc. (NYSE:MTOR) will post sales of $819.36 million for the current quarter, Zacks reports. Three analysts have provided estimates for Meritor’s earnings, with estimates ranging from $799.00 million to $832.89 million. Meritor posted sales of $728.00 million during the same quarter last year, which suggests a positive year over year growth rate of 12.5%. The firm is scheduled to announce its next quarterly earnings results 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 fiscal year, analysts anticipate that the firm will report sales of $3.50 billion per share, with estimates ranging from $3.47 billion to $3.55 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Meritor.
Meritor (NYSE:MTOR) last issued its earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.20. The business had revenue of $920 million during the quarter, compared to the consensus estimate of $846.19 million. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share.
Several analysts recently weighed in on the company. BidaskClub upgraded Meritor from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research upgraded Meritor from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Tuesday, July 25th. UBS AG reiterated a “neutral” rating and set a $19.00 target price (up from $18.00) on shares of Meritor in a research note on Thursday, August 3rd. ValuEngine upgraded Meritor from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 2nd. Finally, Barclays PLC raised their price target on Meritor from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Meritor presently has an average rating of “Buy” and a consensus price target of $19.57.
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In other news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction that occurred 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 sale, the senior vice president now owns 30,000 shares of the company’s stock, valued at $576,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.87% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Chicago Equity Partners LLC acquired a new position in shares of Meritor during the first quarter worth about $1,059,000. LSV Asset Management raised its stake in shares of Meritor by 1.2% in the first quarter. LSV Asset Management now owns 4,825,431 shares of the auto parts company’s stock worth $82,659,000 after buying an additional 57,700 shares during the period. Bowling Portfolio Management LLC raised its stake in shares of Meritor by 13.3% in the first quarter. Bowling Portfolio Management LLC now owns 59,573 shares of the auto parts company’s stock worth $1,020,000 after buying an additional 7,000 shares during the period. DUPONT CAPITAL MANAGEMENT Corp bought a new stake in shares of Meritor during the first quarter worth $365,000. Finally, Old Mutual Global Investors UK Ltd. bought a new stake in shares of Meritor during the first quarter worth $9,465,000. 93.72% of the stock is currently owned by institutional investors and hedge funds.
Shares of Meritor (MTOR) opened at 18.59 on Friday. The firm has a 50-day moving average price of $17.51 and a 200-day moving average price of $16.60. Meritor has a 52 week low of $9.84 and a 52 week high of $19.61. The firm has a market cap of $1.65 billion, a PE ratio of 3.02 and a beta of 2.22.
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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