BorgWarner (NYSE:BWA) Announces Earnings Results, Beats Estimates By $0.17 EPS

BorgWarner (NYSE:BWA) released its quarterly earnings results on Thursday. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17, Briefing.com reports. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. BorgWarner’s quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. BorgWarner updated its FY 2024 guidance to 4.150-4.300 EPS and its FY24 guidance to $4.15-$4.30 EPS.

BorgWarner Trading Down 0.6 %

Shares of BWA opened at $33.44 on Friday. The stock has a fifty day moving average of $34.06 and a two-hundred day moving average of $33.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 1.62. The company has a market capitalization of $7.62 billion, a PE ratio of 10.75, a price-to-earnings-growth ratio of 0.73 and a beta of 1.20. BorgWarner has a fifty-two week low of $29.51 and a fifty-two week high of $38.22.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Citigroup reduced their price target on BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $36.00 target price on shares of BorgWarner in a report on Tuesday, September 10th. StockNews.com raised BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Barclays increased their target price on BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. Finally, The Goldman Sachs Group reduced their target price on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.25.

Insider Transactions at BorgWarner

In other news, CAO Tonit M. Calaway sold 10,868 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the sale, the chief accounting officer now owns 206,083 shares in the company, valued at approximately $6,541,074.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Tania Wingfield sold 2,066 shares of the firm’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 transaction, the executive vice president now directly owns 46,016 shares in the company, valued at approximately $1,472,512. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Tonit M. Calaway sold 10,868 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $31.74, for a total transaction of $344,950.32. Following the completion of the sale, the chief accounting officer now directly owns 206,083 shares in the company, valued at approximately $6,541,074.42. The trade was a 0.00 % decrease in their position. 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.