BorgWarner (NYSE:BWA) Issues FY24 Earnings Guidance

BorgWarner (NYSE:BWA) 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.

Analysts Set New Price Targets

BWA has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Wells Fargo & Company dropped their price objective on BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Citigroup cut their price objective on BorgWarner from $41.00 to $36.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, Wolfe Research started coverage on BorgWarner in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, BorgWarner has an average rating of “Moderate Buy” and an average target price of $41.25.

BorgWarner Stock Down 0.6 %

BWA traded down $0.19 during trading on Friday, reaching $33.44. 2,739,690 shares of the stock were exchanged, compared to its average volume of 2,713,774. 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 stock’s 50 day moving average price is $34.06 and its two-hundred day moving average price is $33.87. BorgWarner has a twelve month low of $29.51 and a twelve month high of $38.22. The stock has a market cap of $7.62 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.73 and a beta of 1.20.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the business earned $0.98 EPS. BorgWarner’s revenue for the quarter was down 4.8% compared to the same quarter last year. Equities analysts expect that BorgWarner will post 4.09 EPS for the current year.

Insider Activity

In other BorgWarner news, CAO Tonit M. Calaway sold 10,868 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was 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 owns 206,083 shares of the company’s stock, valued at $6,541,074.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BorgWarner news, CAO Tonit M. Calaway sold 10,868 shares of the 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 transaction, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, 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 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.