BorgWarner (NYSE:BWA) Releases FY24 Earnings Guidance

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

Shares of BorgWarner stock traded down $0.34 during trading on Thursday, reaching $33.21. 738,723 shares of the company’s stock were exchanged, compared to its average volume of 2,696,019. 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 has a 1-year low of $29.51 and a 1-year high of $38.22. The company has a market cap of $7.57 billion, a P/E ratio of 12.71, a PEG ratio of 0.81 and a beta of 1.20. The firm’s 50-day moving average price is $34.06 and its 200 day moving average price is $33.86.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.19 EPS for the quarter, topping 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 analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm earned $1.35 EPS. BorgWarner’s revenue was down 20.3% on a year-over-year basis. As a group, research analysts anticipate that BorgWarner will post 4.1 earnings per share for the current year.

Wall Street Analyst Weigh In

BWA has been the topic of a number of research reports. Barclays boosted their price objective on BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Bank of America reduced their price objective on BorgWarner from $50.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Wolfe Research initiated coverage on BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating on the stock. UBS Group boosted their price objective on BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Finally, StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, BorgWarner currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Insider Activity at BorgWarner

In related news, 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 transaction of $344,950.32. Following the sale, the chief accounting officer now owns 206,083 shares in the company, valued at $6,541,074.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Tonit M. Calaway sold 10,868 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at approximately $6,541,074.42. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Tania Wingfield sold 2,066 shares of the company’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 in the company, valued at approximately $1,472,512. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.

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.