BorgWarner (NYSE:BWA - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.15-$4.30 for the period, compared to the consensus earnings per share estimate of $4.10. The company issued revenue guidance of $14.0-$14.2 billion, compared to the consensus revenue estimate of $14.25 billion. BorgWarner also updated its FY 2024 guidance to 4.150-4.300 EPS.
Wall Street Analysts Forecast Growth
Several research firms recently commented on BWA. Evercore ISI raised shares of BorgWarner from an "in-line" rating to an "outperform" rating and increased their target price for the company from $39.00 to $43.00 in a report on Monday, October 14th. Citigroup lowered their target price on BorgWarner from $41.00 to $36.00 and set a "neutral" rating for the company in a research note on Friday, July 12th. Wolfe Research started coverage on BorgWarner in a research report on Thursday, September 5th. They set a "peer perform" rating on the stock. The Goldman Sachs Group lowered their price objective on BorgWarner from $38.00 to $36.00 and set a "neutral" rating for the company in a research report on Tuesday, October 1st. Finally, Wells Fargo & Company cut their target price on shares of BorgWarner from $44.00 to $42.00 and set an "overweight" rating on the stock in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $41.25.
Read Our Latest Stock Analysis on BorgWarner
BorgWarner Stock Performance
NYSE:BWA traded up $0.08 during mid-day trading on Thursday, hitting $33.63. 4,459,258 shares of the company traded hands, compared to its average volume of 2,713,651. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The stock's fifty day moving average price is $34.06 and its 200-day moving average price is $33.86. The firm has a market cap of $7.66 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 0.81 and a beta of 1.20. BorgWarner has a one year low of $29.51 and a one year high of $38.22.
BorgWarner (NYSE:BWA - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.18. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The company had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the company posted $1.35 EPS. The firm's revenue was down 20.3% on a year-over-year basis. Research analysts anticipate that BorgWarner will post 4.1 earnings per share for the current fiscal year.
Insider Transactions at BorgWarner
In related news, EVP Tania Wingfield sold 2,066 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the transaction, the executive vice president now owns 46,016 shares of the company's stock, valued at approximately $1,472,512. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Tania Wingfield sold 2,066 shares of the business's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total value of $66,112.00. Following the transaction, the executive vice president now directly owns 46,016 shares of the company's stock, valued at approximately $1,472,512. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Tonit M. Calaway sold 10,868 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $31.74, for a total transaction of $344,950.32. Following the sale, the chief accounting officer now directly owns 206,083 shares of the company's stock, valued at approximately $6,541,074.42. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.45% of the company's stock.
About BorgWarner
(
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BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.
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