Brokerages Anticipate Meritor Inc (MTOR) Will Post Quarterly Sales of $830.44 Million

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.

COPYRIGHT VIOLATION WARNING: “Brokerages Anticipate Meritor Inc (MTOR) Will Post Quarterly Sales of $830.44 Million” was originally published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/31/brokerages-anticipate-meritor-inc-mtor-will-post-quarterly-sales-of-830-44-million.html.

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.

Get a free copy of the Zacks research report on Meritor (MTOR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Meritor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Meritor and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply