BorgWarner (NYSE:BWA) Releases FY24 Earnings Guidance

BorgWarner (NYSE:BWA) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $4.15-$4.30 for the period, compared to the consensus EPS 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.

BorgWarner Stock Down 1.0 %

BorgWarner stock traded down $0.34 during midday trading on Thursday, reaching $33.21. The stock had a trading volume of 738,723 shares, compared to its average volume of 2,696,019. The firm’s fifty day simple moving average is $34.06 and its 200-day simple moving average is $33.86. BorgWarner has a 1-year low of $29.51 and a 1-year high of $38.22. The stock has a market capitalization of $7.57 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 0.81 and a beta of 1.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 1.62.

BorgWarner (NYSE:BWA) last announced its earnings results 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 business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm earned $1.35 EPS. BorgWarner’s revenue for the quarter was down 20.3% compared to the same quarter last year. As a group, analysts expect that BorgWarner will post 4.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BWA shares. Bank of America dropped their target price on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. decreased their price target on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. Barclays raised their price target on BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Wolfe Research initiated coverage on BorgWarner in a research note on Thursday, September 5th. They issued a “peer perform” rating for the company. Finally, Citigroup decreased their price target on BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $41.25.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction on Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the transaction, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BorgWarner news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction on Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the transaction, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of BorgWarner 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 directly owns 46,016 shares of the company’s stock, valued at $1,472,512. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

About BorgWarner

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.