Federal-Mogul Holdings Corp. (NASDAQ:FDML) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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) opened at 9.73 on Friday. The firm has a market cap of $1.64 billion, a P/E ratio of 71.54 and a beta of 2.97. Federal-Mogul Holdings Corp. has a 12-month low of $3.81 and a 12-month high of $10.15. The company has a 50-day moving average of $9.45 and a 200 day moving average of $9.04.
Federal-Mogul Holdings Corp. (NASDAQ:FDML) last announced its quarterly earnings results on Wednesday, October 26th. The company reported $0.15 earnings per share (EPS) for the quarter, missing the 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 business earned $1.83 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period last year, the company earned $0.17 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Equities research analysts anticipate that Federal-Mogul Holdings Corp. will post $1.00 earnings per share for the current fiscal year.
Institutional investors have recently made changes to their positions in the stock. Prudential Financial Inc. increased its position in shares of Federal-Mogul Holdings Corp. by 2.6% in the third quarter. Prudential Financial Inc. now owns 10,441 shares of the company’s stock valued at $100,000 after buying an additional 260 shares during the last quarter. KCG Holdings Inc. purchased a new position in shares of Federal-Mogul Holdings Corp. during the second quarter valued at about $104,000. Wells Fargo & Company MN increased its position in shares of Federal-Mogul Holdings Corp. by 36.6% in the third quarter. Wells Fargo & Company MN now owns 10,815 shares of the company’s stock valued at $104,000 after buying an additional 2,900 shares during the last quarter. Kassirer Asset Management Corp purchased a new position in shares of Federal-Mogul Holdings Corp. during the third quarter valued at about $109,000. Finally, BlackRock Advisors LLC increased its position in shares of Federal-Mogul Holdings Corp. by 2.4% in the second quarter. BlackRock Advisors LLC now owns 13,319 shares of the company’s stock valued at $111,000 after buying an additional 309 shares during the last quarter. 98.50% of the stock is currently owned by institutional investors and hedge funds.
Federal-Mogul Holdings Corp. Company Profile
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.