BorgWarner Inc. (NYSE:BWA)’s share price fell 1.3% during mid-day trading on Thursday . The company traded as low as $31.38 and last traded at $31.10, 55,685 shares changed hands during mid-day trading. A decline of 97% from the average session volume of 2,186,304 shares. The stock had previously closed at $31.50.
A number of brokerages have recently issued reports on BWA. Zacks Investment Research cut shares of BorgWarner from a “hold” rating to a “sell” rating in a research note on Tuesday, April 23rd. Cowen set a $47.00 price objective on shares of BorgWarner and gave the company a “buy” rating in a research note on Friday, July 19th. Deutsche Bank cut shares of BorgWarner from a “buy” rating to a “hold” rating and cut their price objective for the company from $50.00 to $44.00 in a research note on Friday, July 26th. Barclays reaffirmed a “buy” rating and issued a $44.00 price objective on shares of BorgWarner in a research note on Thursday, July 18th. Finally, Credit Suisse Group cut their price objective on shares of BorgWarner from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $46.93.
The company has a current ratio of 1.66, a quick ratio of 1.31 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $6.82 billion, a P/E ratio of 6.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.82. The company’s fifty day simple moving average is $38.43 and its 200 day simple moving average is $39.54.
BorgWarner (NYSE:BWA) last issued its quarterly earnings data on Thursday, July 25th. The auto parts company reported $1.00 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. BorgWarner had a net margin of 7.53% and a return on equity of 20.13%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the business earned $1.18 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis. On average, analysts predict that BorgWarner Inc. will post 3.88 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. The ex-dividend date is Friday, August 30th. This represents a $0.68 annualized dividend and a yield of 2.19%. BorgWarner’s dividend payout ratio (DPR) is presently 15.18%.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Mason Street Advisors LLC increased its stake in shares of BorgWarner by 0.9% in the 1st quarter. Mason Street Advisors LLC now owns 29,631 shares of the auto parts company’s stock worth $1,138,000 after acquiring an additional 267 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of BorgWarner by 0.5% in the 1st quarter. State Treasurer State of Michigan now owns 59,896 shares of the auto parts company’s stock worth $2,301,000 after acquiring an additional 300 shares in the last quarter. SeaCrest Wealth Management LLC increased its stake in shares of BorgWarner by 3.6% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 8,661 shares of the auto parts company’s stock worth $364,000 after acquiring an additional 302 shares in the last quarter. Advisor Partners LLC increased its stake in shares of BorgWarner by 3.0% in the 1st quarter. Advisor Partners LLC now owns 11,667 shares of the auto parts company’s stock worth $448,000 after acquiring an additional 337 shares in the last quarter. Finally, Regentatlantic Capital LLC increased its stake in shares of BorgWarner by 5.9% in the 1st quarter. Regentatlantic Capital LLC now owns 6,867 shares of the auto parts company’s stock worth $264,000 after acquiring an additional 385 shares in the last quarter. Institutional investors and hedge funds own 89.51% of the company’s stock.
About BorgWarner (NYSE:BWA)
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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