Zacks: Brokerages Anticipate BorgWarner Inc. (BWA) Will Announce Quarterly Sales of $2.52 Billion

Equities analysts forecast that BorgWarner Inc. (NYSE:BWA) will post sales of $2.52 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for BorgWarner’s earnings, with the lowest sales estimate coming in at $2.51 billion and the highest estimate coming in at $2.52 billion. BorgWarner posted sales of $2.42 billion during the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The firm is scheduled to issue its next earnings results on Thursday, October 25th.

According to Zacks, analysts expect that BorgWarner will report full-year sales of $10.71 billion for the current year, with estimates ranging from $10.70 billion to $10.73 billion. For the next financial year, analysts forecast that the business will report sales of $11.36 billion per share, with estimates ranging from $11.28 billion to $11.56 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover BorgWarner.

BorgWarner (NYSE:BWA) last posted its quarterly earnings results on Thursday, July 26th. The auto parts company reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.08. The company had revenue of $2.69 billion during the quarter, compared to analyst estimates of $2.71 billion. BorgWarner had a net margin of 5.11% and a return on equity of 22.83%. The firm’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share.

Several equities analysts recently weighed in on the stock. Wells Fargo & Co upgraded shares of BorgWarner from a “market perform” rating to an “outperform” rating and reduced their price target for the company from $57.00 to $56.00 in a research report on Wednesday, July 18th. Citigroup reduced their price target on shares of BorgWarner from $60.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, May 22nd. Goldman Sachs Group upgraded shares of BorgWarner from a “neutral” rating to a “buy” rating and increased their price target for the company from $56.00 to $58.00 in a research report on Monday, June 25th. Oppenheimer reduced their price target on shares of BorgWarner from $58.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, July 23rd. Finally, Zacks Investment Research lowered shares of BorgWarner from a “buy” rating to a “hold” rating in a research report on Tuesday, May 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. BorgWarner has an average rating of “Buy” and an average price target of $57.47.

In other BorgWarner news, VP Thomas J. Mcgill sold 3,260 shares of the company’s stock in a transaction dated Thursday, August 2nd. The shares were sold at an average price of $44.55, for a total transaction of $145,233.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Tonit M. Calaway sold 4,590 shares of the company’s stock in a transaction dated Monday, July 30th. The shares were sold at an average price of $46.01, for a total transaction of $211,185.90. Following the sale, the executive vice president now directly owns 34,982 shares in the company, valued at $1,609,521.82. The disclosure for this sale can be found here. 0.74% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of BorgWarner by 14.5% in the second quarter. BlackRock Inc. now owns 19,874,263 shares of the auto parts company’s stock worth $857,773,000 after buying an additional 2,517,481 shares in the last quarter. Boston Partners lifted its holdings in shares of BorgWarner by 1.2% in the first quarter. Boston Partners now owns 11,648,949 shares of the auto parts company’s stock worth $585,127,000 after buying an additional 132,772 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of BorgWarner by 3.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 8,380,386 shares of the auto parts company’s stock worth $361,697,000 after buying an additional 241,769 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of BorgWarner by 4.0% in the first quarter. JPMorgan Chase & Co. now owns 5,205,225 shares of the auto parts company’s stock worth $261,459,000 after buying an additional 198,540 shares in the last quarter. Finally, LSV Asset Management lifted its holdings in shares of BorgWarner by 8.4% in the second quarter. LSV Asset Management now owns 4,426,453 shares of the auto parts company’s stock worth $191,045,000 after buying an additional 341,578 shares in the last quarter. 91.06% of the stock is currently owned by institutional investors and hedge funds.

BWA opened at $44.54 on Friday. The stock has a market cap of $9.18 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.23 and a beta of 1.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.58 and a quick ratio of 1.23. BorgWarner has a fifty-two week low of $42.06 and a fifty-two week high of $58.22.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Tuesday, September 4th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Friday, August 31st. BorgWarner’s dividend payout ratio (DPR) is presently 17.48%.

About BorgWarner

BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.

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