Meritor Inc (NYSE:MTOR) Expected to Announce Earnings of $0.68 Per Share

Equities analysts expect Meritor Inc (NYSE:MTOR) to announce $0.68 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Meritor’s earnings. The lowest EPS estimate is $0.68 and the highest is $0.69. Meritor posted earnings per share of $0.82 during the same quarter last year, which suggests a negative year over year growth rate of 17.1%. The company is scheduled to issue its next earnings results on Wednesday, November 13th.

On average, analysts expect that Meritor will report full-year earnings of $3.72 per share for the current fiscal year, with EPS estimates ranging from $3.70 to $3.77. For the next year, analysts anticipate that the firm will post earnings of $3.23 per share, with EPS estimates ranging from $3.00 to $3.40. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Meritor.

Meritor (NYSE:MTOR) last posted its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.20 EPS for the quarter, beating the consensus estimate of $0.95 by $0.25. Meritor had a net margin of 6.31% and a return on equity of 83.77%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The firm’s revenue was up 3.3% on a year-over-year basis.

MTOR has been the topic of several recent research reports. Buckingham Research lowered their price target on shares of Meritor from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, August 16th. UBS Group lowered their price target on shares of Meritor from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Citigroup lowered their price target on shares of Meritor from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Monday, August 26th. ValuEngine lowered shares of Meritor from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 4th. Finally, Zacks Investment Research raised shares of Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Meritor has a consensus rating of “Hold” and a consensus price target of $24.18.

In other news, SVP Boise April Miller sold 31,830 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $17.38, for a total transaction of $553,205.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. raised its position in shares of Meritor by 124.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,433 shares of the auto parts company’s stock worth $35,000 after purchasing an additional 794 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of Meritor during the 2nd quarter worth about $77,000. New York State Teachers Retirement System acquired a new position in shares of Meritor during the 1st quarter worth about $98,000. Anderson Fisher LLC acquired a new position in shares of Meritor during the 1st quarter worth about $107,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Meritor by 16.9% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,739 shares of the auto parts company’s stock worth $115,000 after purchasing an additional 686 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

NYSE:MTOR traded down $0.26 during mid-day trading on Tuesday, hitting $19.55. The company’s stock had a trading volume of 414,900 shares, compared to its average volume of 856,042. Meritor has a 1 year low of $15.01 and a 1 year high of $25.78. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.25 and a quick ratio of 0.76. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 6.45 and a beta of 2.33. The business’s fifty day moving average is $18.95 and its two-hundred day moving average is $21.50.

About Meritor

Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck; and Aftermarket, Industrial and Trailer.

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Earnings History and Estimates for Meritor (NYSE:MTOR)

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