Today, Federal-Mogul Holdings Corp. (FDML) Upgraded to “Hold” at The Zacks Investment Research

Today, Federal-Mogul Holdings Corp. (FDML) Upgraded to “Hold” at The Zacks Investment Research
Federal-Mogul Holdings Corp. (NASDAQ:FDML) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

According to Zacks, “FEDERAL MOGUL CORPORATION is a leading global supplier of powertrain, chassis and safety technologies, serving the world’s foremost original equipment manufacturers of automotive, light commercial, heavy-duty, agricultural, marine, rail, off-road and industrial vehicles, as well as the worldwide aftermarket. The company’s leading technology and innovation, lean manufacturing expertise, as well as marketing and distribution deliver world-class products, brands and services with quality excellence at a competitive cost. Federal-Mogul is focused on its sustainable global profitable growth strategy, creating value and satisfaction for its customers, shareholders and employees. Federal-Mogul was founded in Detroit in 1899. The company is headquartered in Southfield, Michigan, and employs 50,000 people in 35 countries. “

Shares of Federal-Mogul Holdings Corp. (NASDAQ:FDML) traded up 1.50% during trading on Friday, reaching $10.12. 81,891 shares of the company’s stock traded hands. Federal-Mogul Holdings Corp. has a 1-year low of $3.81 and a 1-year high of $10.15. The stock has a 50-day moving average of $9.45 and a 200-day moving average of $9.03. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of 74.41 and a beta of 2.97.

Federal-Mogul Holdings Corp. (NASDAQ:FDML) last posted its quarterly earnings data on Wednesday, October 26th. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by $0.06. Federal-Mogul Holdings Corp. had a net margin of 0.31% and a return on equity of 16.56%. The company had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the company earned $0.17 earnings per share. The company’s revenue was up .1% compared to the same quarter last year. On average, equities analysts predict that Federal-Mogul Holdings Corp. will post $1.00 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP increased its position in Federal-Mogul Holdings Corp. by 40.8% in the second quarter. First Trust Advisors LP now owns 65,865 shares of the company’s stock worth $547,000 after buying an additional 19,081 shares during the period. Gabelli Funds LLC increased its position in Federal-Mogul Holdings Corp. by 1.4% in the second quarter. Gabelli Funds LLC now owns 1,978,200 shares of the company’s stock worth $16,439,000 after buying an additional 27,500 shares during the period. Gamco Investors INC. ET AL increased its position in Federal-Mogul Holdings Corp. by 1.4% in the second quarter. Gamco Investors INC. ET AL now owns 8,349,777 shares of the company’s stock worth $69,387,000 after buying an additional 117,564 shares during the period. Schwab Charles Investment Management Inc. increased its position in Federal-Mogul Holdings Corp. by 1.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 106,355 shares of the company’s stock worth $884,000 after buying an additional 1,302 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Federal-Mogul Holdings Corp. during the second quarter worth approximately $226,000. Hedge funds and other institutional investors own 98.33% of the company’s stock.

About Federal-Mogul Holdings Corp.

Federal-Mogul Holdings Corp, formerly Federal-Mogul Corporation, is a global supplier of technology and innovation in vehicle and industrial products for fuel economy, emissions reduction and safety systems. The Company serves original equipment manufacturers (OEM) and servicers (OES) (collectively OE) of automotive, light, medium and heavy-duty commercial vehicles, off-road, agricultural, marine, rail, aerospace, power generation and industrial equipment, as well as the worldwide aftermarket.

Related posts

Leave a Comment