BorgWarner (NYSE:BWA) Announces Earnings Results

BorgWarner (NYSE:BWA) released its quarterly earnings results on Thursday. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17, Briefing.com reports. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The firm 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 posted $0.98 EPS. The business’s revenue was down 4.8% on a year-over-year basis. BorgWarner updated its FY 2024 guidance to 4.150-4.300 EPS and its FY24 guidance to $4.15-$4.30 EPS.

BorgWarner Stock Down 0.6 %

BWA opened at $33.44 on Friday. BorgWarner has a fifty-two week low of $29.51 and a fifty-two week high of $38.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 1.62. The company has a market capitalization of $7.62 billion, a P/E ratio of 10.75, a P/E/G ratio of 0.73 and a beta of 1.20. The stock has a fifty day moving average of $34.06 and a 200-day moving average of $33.86.

Insider Transactions at BorgWarner

In related news, EVP Tania Wingfield sold 2,066 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the transaction, the executive vice president now owns 46,016 shares of the company’s stock, valued at $1,472,512. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Tania Wingfield sold 2,066 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the transaction, the executive vice president now owns 46,016 shares of the company’s stock, valued at $1,472,512. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Tonit M. Calaway sold 10,868 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the completion of 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 trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America reduced their price target on BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. decreased their target price on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a research note on Monday, October 21st. UBS Group raised their target price on shares of BorgWarner from $41.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group decreased their target price on shares of BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Finally, StockNews.com raised shares of BorgWarner from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, BorgWarner currently has an average rating of “Moderate Buy” and an average price target of $41.25.

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.