Trading Report: The BorgWarner Inc. (BWA) Posts Quarterly Earnings Results

The BorgWarner Inc. (BWA) Posts Quarterly  Earnings Results

BorgWarner Inc. (NYSE:BWA) announced its earnings results on Thursday. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. BorgWarner had a net margin of 6.01% and a return on equity of 18.50%. The company earned $2.21 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The company’s revenue was up 17.5% on a year-over-year basis. BorgWarner updated its Q4 guidance to $0.82-0.86 EPS.

BorgWarner (NYSE:BWA) opened at 35.63 on Monday. BorgWarner has a 12-month low of $27.52 and a 12-month high of $44.35. The stock has a 50 day moving average of $34.98 and a 200 day moving average of $34.04. The firm has a market cap of $7.59 billion, a PE ratio of 14.51 and a beta of 1.93.

In related news, VP Brady D. Ericson sold 17,132 shares of BorgWarner stock in a transaction that occurred on Friday, August 26th. The shares were sold at an average price of $33.69, for a total transaction of $577,177.08. Following the sale, the vice president now directly owns 25,502 shares in the company, valued at approximately $859,162.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Thomas J. Mcgill sold 5,000 shares of BorgWarner stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $31.83, for a total transaction of $159,150.00. Following the sale, the vice president now owns 31,061 shares in the company, valued at $988,671.63. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

Large investors have recently bought and sold shares of the company. Hermes Investment Management Ltd. increased its stake in BorgWarner by 22.0% in the second quarter. Hermes Investment Management Ltd. now owns 448,260 shares of the company’s stock valued at $13,233,000 after buying an additional 80,776 shares in the last quarter. Douglas Lane & Associates LLC raised its position in BorgWarner by 6.5% in the second quarter. Douglas Lane & Associates LLC now owns 1,518,337 shares of the company’s stock valued at $44,821,000 after buying an additional 93,270 shares during the last quarter. Geode Capital Management LLC raised its position in BorgWarner by 16.6% in the first quarter. Geode Capital Management LLC now owns 2,055,753 shares of the company’s stock valued at $78,802,000 after buying an additional 292,756 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in BorgWarner by 29.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 961,849 shares of the company’s stock valued at $28,394,000 after buying an additional 219,118 shares during the last quarter. Finally, Becker Capital Management Inc. purchased a new position in BorgWarner during the second quarter valued at about $29,462,000. Institutional investors and hedge funds own 88.25% of the company’s stock.

A number of equities research analysts recently weighed in on the stock. Goldman Sachs Group Inc. downgraded shares of BorgWarner from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $37.00 to $35.00 in a research note on Thursday, October 6th. Robert W. Baird reissued an “outperform” rating and set a $46.00 price target on shares of BorgWarner in a research note on Wednesday, September 7th. Seaport Global Securities assumed coverage on shares of BorgWarner in a research note on Tuesday, August 9th. They set a “neutral” rating for the company. Buckingham Research assumed coverage on shares of BorgWarner in a research note on Tuesday, August 2nd. They set a “neutral” rating and a $33.00 price target for the company. Finally, Zacks Investment Research raised shares of BorgWarner from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. BorgWarner presently has a consensus rating of “Hold” and an average target price of $38.70.

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