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

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

BorgWarner Price Performance

NYSE:BWA opened at $33.44 on Friday. BorgWarner has a 52 week low of $29.51 and a 52 week high of $38.22. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.73 and a beta of 1.20. The firm’s 50-day simple moving average is $34.06 and its 200 day simple moving average is $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.

Insider Buying and Selling

In other BorgWarner news, EVP Tania Wingfield sold 2,066 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,472,512. This trade 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. In related news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $31.74, for a total transaction of $344,950.32. Following the sale, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at approximately $6,541,074.42. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Tania Wingfield sold 2,066 shares of BorgWarner stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total transaction of $66,112.00. Following the sale, the executive vice president now directly owns 46,016 shares in the company, valued at $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 insiders.

Wall Street Analysts Forecast Growth

BWA has been the subject of several research reports. Barclays increased their price objective on shares of BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI raised shares of BorgWarner from an “in-line” rating to an “outperform” rating and raised their target price for the company from $39.00 to $43.00 in a research report on Monday, October 14th. Robert W. Baird raised their target price on shares of BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Citigroup decreased their target price on shares of BorgWarner from $41.00 to $36.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $36.00 target price on shares of BorgWarner in a research report on Tuesday, September 10th. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

BorgWarner Company Profile

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.