BorgWarner (NYSE:BWA) Posts Quarterly Earnings Results, Beats Expectations By $0.17 EPS

BorgWarner (NYSE:BWA) released its quarterly earnings results on Thursday. The auto parts company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17, Briefing.com reports. The firm had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. The firm’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same period in the previous year, the company earned $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 Stock Down 0.6 %

NYSE:BWA traded down $0.19 during mid-day trading on Friday, hitting $33.44. 2,671,303 shares of the company’s stock traded hands, compared to its average volume of 2,713,451. The company has a market capitalization of $7.62 billion, a P/E ratio of 10.70, a P/E/G ratio of 0.73 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. The company has a fifty day moving average of $34.06 and a 200 day moving average of $33.86. BorgWarner has a twelve month low of $29.51 and a twelve month high of $38.22.

Insiders Place Their Bets

In other BorgWarner 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 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of BorgWarner stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total transaction of $66,112.00. Following the completion of the transaction, the executive vice president now 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 accessible 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 stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of the sale, the chief accounting officer now owns 206,083 shares in the company, valued at $6,541,074.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.

Wall Street Analyst Weigh In

BWA has been the subject of a number of research analyst reports. The Goldman Sachs Group decreased their price target on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Bank of America dropped their price objective on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Wells Fargo & Company lowered their target price on BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. UBS Group lifted their price objective on BorgWarner from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Barclays increased their target price on shares of BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.25.

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.