Equities research analysts forecast that Meritor, Inc. (NYSE:MTOR) will report sales of $946.07 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Meritor’s earnings, with estimates ranging from $931.20 million to $960.93 million. Meritor posted sales of $806.00 million during the same quarter last year, which suggests a positive year over year growth rate of 17.4%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, May 3rd.
On average, analysts expect that Meritor will report full year sales of $3.88 billion for the current fiscal year. For the next fiscal year, analysts forecast that the firm will report sales of $4.07 billion per share, with estimates ranging from $4.00 billion to $4.15 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Meritor.
Meritor (NYSE:MTOR) last posted its quarterly earnings data on Wednesday, January 31st. The auto parts company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.16. Meritor had a net margin of 7.69% and a return on equity of 208.74%. The company had revenue of $903.00 million during the quarter, compared to analyst estimates of $836.28 million. During the same quarter last year, the firm posted $0.25 EPS. The business’s revenue for the quarter was up 29.2% on a year-over-year basis.
Several brokerages have commented on MTOR. Stifel Nicolaus raised their target price on shares of Meritor from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Barclays raised their target price on shares of Meritor from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, February 1st. ValuEngine upgraded shares of Meritor from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Piper Jaffray reiterated a “buy” rating and issued a $35.00 target price on shares of Meritor in a report on Wednesday, January 31st. Finally, Zacks Investment Research upgraded shares of Meritor from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $28.86.
NYSE:MTOR opened at $21.64 on Friday. Meritor has a twelve month low of $14.97 and a twelve month high of $29.54. The company has a debt-to-equity ratio of 2.86, a current ratio of 1.17 and a quick ratio of 0.69. The stock has a market cap of $1,870.20, a PE ratio of 11.51 and a beta of 2.57.
In other news, CEO Jeffrey A. Craig sold 50,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $29.12, for a total value of $1,456,000.00. Following the completion of the sale, the chief executive officer now directly owns 427,310 shares of the company’s stock, valued at $12,443,267.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph A. Plomin sold 15,826 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $25.64, for a total transaction of $405,778.64. The disclosure for this sale can be found here. Insiders sold 238,826 shares of company stock valued at $6,439,309 over the last three months. 2.32% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of MTOR. Schroder Investment Management Group purchased a new stake in shares of Meritor in the fourth quarter worth approximately $136,000. AMP Capital Investors Ltd bought a new position in Meritor during the third quarter valued at approximately $232,000. Sciencast Management LP bought a new position in Meritor during the fourth quarter valued at approximately $318,000. Stifel Financial Corp bought a new position in Meritor during the third quarter valued at approximately $321,000. Finally, Parametrica Management Ltd bought a new position in Meritor during the fourth quarter valued at approximately $356,000. 93.31% of the stock is owned by institutional investors and hedge funds.
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Meritor Company Profile
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 & Industrial; and Aftermarket & Trailer.
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