Meritor (NYSE:MTOR) issued its quarterly earnings results on Wednesday. The auto parts company reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.95 by $0.25, Briefing.com reports. Meritor had a return on equity of 92.50% and a net margin of 6.31%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. Meritor updated its FY 2019 guidance to $3.70-3.70 EPS and its FY19 guidance to $3.70 EPS.
Shares of Meritor stock traded down $1.00 on Friday, reaching $21.45. 1,345,143 shares of the stock were exchanged, compared to its average volume of 639,563. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.15 and a quick ratio of 0.68. Meritor has a twelve month low of $15.01 and a twelve month high of $25.78. The company has a market capitalization of $2.06 billion, a price-to-earnings ratio of 7.08 and a beta of 2.22. The company has a 50 day simple moving average of $23.43.
A number of equities research analysts have recently weighed in on MTOR shares. Stifel Nicolaus set a $29.00 price target on Meritor and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Longbow Research lowered Meritor from a “buy” rating to a “neutral” rating and set a $23.42 price target on the stock. in a research note on Monday, May 6th. Finally, Zacks Investment Research raised Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a report on Thursday. Six investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $25.63.
In other news, Director Rodger L. Boehm bought 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $21.00 per share, with a total value of $42,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.80% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in MTOR. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Meritor by 16.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,739 shares of the auto parts company’s stock valued at $115,000 after acquiring an additional 686 shares during the period. ICM Asset Management Inc. WA lifted its holdings in Meritor by 0.3% in the second quarter. ICM Asset Management Inc. WA now owns 222,730 shares of the auto parts company’s stock valued at $5,401,000 after acquiring an additional 730 shares during the period. Sheaff Brock Investment Advisors LLC lifted its holdings in Meritor by 2.4% in the second quarter. Sheaff Brock Investment Advisors LLC now owns 44,724 shares of the auto parts company’s stock valued at $1,085,000 after acquiring an additional 1,067 shares during the period. Quantamental Technologies LLC lifted its holdings in Meritor by 84.1% in the first quarter. Quantamental Technologies LLC now owns 2,629 shares of the auto parts company’s stock valued at $54,000 after acquiring an additional 1,201 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Meritor by 1.9% in the fourth quarter. Legal & General Group Plc now owns 66,243 shares of the auto parts company’s stock valued at $1,121,000 after acquiring an additional 1,204 shares during the period. 95.15% of the stock is owned by hedge funds and other institutional investors.
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; and Aftermarket, Industrial and Trailer.
Read More: Why do commodities matter?
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.