Wall Street brokerages expect Meritor Inc (NYSE:MTOR) to post sales of $830.44 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Meritor’s earnings, with the lowest sales estimate coming in at $824.11 million and the highest estimate coming in at $840.20 million. Meritor reported sales of $699.00 million in the same quarter last year, which indicates a positive year-over-year growth rate of 18.8%. The business is scheduled to announce its next quarterly earnings report on Wednesday, February 7th.
According to Zacks, analysts expect that Meritor will report full year sales of $830.44 million for the current year, with estimates ranging from $3.67 billion to $3.74 billion. For the next financial year, analysts anticipate that the company will report sales of $3.97 billion per share, with estimates ranging from $3.83 billion to $4.10 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Meritor.
Meritor (NYSE:MTOR) last released its earnings results on Wednesday, November 15th. The auto parts company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.15. The company had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $836.39 million. Meritor had a negative return on equity of 1,152.54% and a net margin of 9.68%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS.
A number of research analysts have weighed in on MTOR shares. JPMorgan Chase & Co. boosted their price objective on Meritor from $19.00 to $21.50 and gave the stock a “neutral” rating in a report on Tuesday, September 12th. Citigroup reissued a “neutral” rating and set a $22.00 price objective (up previously from $19.00) on shares of Meritor in a report on Tuesday, September 12th. BidaskClub raised Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, September 22nd. UBS Group boosted their price objective on Meritor from $19.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, October 19th. Finally, Royal Bank of Canada cut their price objective on Meritor from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, November 16th. Six analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $26.14.
In other Meritor news, VP Paul Bialy sold 2,191 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The stock was sold at an average price of $24.64, for a total value of $53,986.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey A. Craig sold 67,005 shares of the business’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $24.63, for a total value of $1,650,333.15. The disclosure for this sale can be found here. Insiders sold 146,290 shares of company stock valued at $3,549,231 in the last quarter. Corporate insiders own 2.32% of the company’s stock.
Several institutional investors have recently made changes to their positions in MTOR. Ameritas Investment Partners Inc. grew its stake in Meritor by 8.8% in the second quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after purchasing an additional 596 shares during the period. Federated Investors Inc. PA grew its stake in shares of Meritor by 21.2% in the second quarter. Federated Investors Inc. PA now owns 8,512 shares of the auto parts company’s stock worth $141,000 after acquiring an additional 1,491 shares during the last quarter. Amalgamated Bank grew its stake in shares of Meritor by 2.7% in the second quarter. Amalgamated Bank now owns 10,624 shares of the auto parts company’s stock worth $176,000 after acquiring an additional 281 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Meritor by 123.3% in the third quarter. Meeder Asset Management Inc. now owns 8,352 shares of the auto parts company’s stock worth $218,000 after acquiring an additional 4,611 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Meritor in the second quarter worth $226,000. Institutional investors own 95.54% of the company’s stock.
Shares of Meritor (NYSE MTOR) traded down $0.27 during trading on Monday, reaching $23.85. The company had a trading volume of 647,757 shares, compared to its average volume of 872,671. Meritor has a fifty-two week low of $12.82 and a fifty-two week high of $27.96. The company has a market cap of $2,130.00, a PE ratio of 6.55 and a beta of 2.29. The company has a quick ratio of 0.78, a current ratio of 1.10 and a debt-to-equity ratio of 2.55.
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Meritor Company Profile
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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