Jefferies Financial Group began coverage on shares of BorgWarner (NYSE:BWA) in a research note published on Tuesday, Marketbeat.com reports. The firm issued a buy rating and a $48.00 target price on the auto parts company’s stock. Jefferies Financial Group also issued estimates for BorgWarner’s Q4 2018 earnings at $1.07 EPS, FY2018 earnings at $4.35 EPS, Q1 2019 earnings at $1.16 EPS, Q2 2019 earnings at $1.16 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.18 EPS, FY2019 earnings at $4.61 EPS and FY2020 earnings at $4.96 EPS.
Several other equities analysts have also recently issued reports on BWA. ValuEngine cut BorgWarner from a sell rating to a strong sell rating in a research note on Saturday, September 1st. Royal Bank of Canada reduced their price objective on BorgWarner to $49.00 and set a positive rating on the stock in a research note on Wednesday, September 19th. BMO Capital Markets set a $60.00 price objective on BorgWarner and gave the stock a buy rating in a research note on Thursday, September 20th. Wolfe Research started coverage on BorgWarner in a research note on Tuesday, October 2nd. They set an outperform rating on the stock. Finally, Buckingham Research reduced their price objective on BorgWarner from $55.00 to $48.00 and set a neutral rating on the stock in a research note on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. BorgWarner currently has a consensus rating of Buy and an average target price of $53.79.
Shares of BWA opened at $37.28 on Tuesday. BorgWarner has a 12-month low of $35.71 and a 12-month high of $58.22. The firm has a market cap of $7.84 billion, a P/E ratio of 9.58, a PEG ratio of 1.20 and a beta of 1.80. The company has a current ratio of 1.66, a quick ratio of 1.28 and a debt-to-equity ratio of 0.50.
BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 25th. The auto parts company reported $1.00 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.01. BorgWarner had a return on equity of 22.68% and a net margin of 5.26%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.45 billion. As a group, analysts predict that BorgWarner will post 4.37 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Monday, December 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date of this dividend is Friday, November 30th. BorgWarner’s payout ratio is 17.48%.
In other BorgWarner news, Director Thomas T. Stallkamp sold 7,692 shares of the firm’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $39.33, for a total value of $302,526.36. Following the sale, the director now directly owns 3,000 shares in the company, valued at $117,990. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alexis P. Michas sold 10,003 shares of the firm’s stock in a transaction on Monday, November 26th. The shares were sold at an average price of $39.99, for a total value of $400,019.97. Following the completion of the sale, the director now owns 78,223 shares in the company, valued at $3,128,137.77. The disclosure for this sale can be found here. Insiders sold 38,475 shares of company stock worth $1,526,992 over the last quarter. 0.74% of the stock is currently owned by company insiders.
Hedge funds have recently bought and sold shares of the business. Capital International Investors acquired a new position in shares of BorgWarner during the third quarter valued at $192,510,000. American Century Companies Inc. increased its holdings in shares of BorgWarner by 37,503.3% during the third quarter. American Century Companies Inc. now owns 3,489,587 shares of the auto parts company’s stock valued at $149,285,000 after purchasing an additional 3,480,307 shares during the period. BlackRock Inc. increased its holdings in shares of BorgWarner by 14.5% during the second quarter. BlackRock Inc. now owns 19,874,263 shares of the auto parts company’s stock valued at $857,773,000 after purchasing an additional 2,517,481 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of BorgWarner by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 6,635,725 shares of the auto parts company’s stock valued at $283,875,000 after purchasing an additional 1,661,618 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of BorgWarner by 1,701.9% during the third quarter. Point72 Asset Management L.P. now owns 1,315,009 shares of the auto parts company’s stock valued at $56,256,000 after purchasing an additional 1,242,029 shares during the period. Institutional investors own 90.60% of the company’s stock.
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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