Wall Street analysts predict that Meritor Inc (NYSE:MTOR) will post earnings of $0.68 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Meritor’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.68. Meritor reported earnings of $0.82 per share in the same quarter last year, which would indicate a negative year over year growth rate of 17.1%. The firm is scheduled to report its next quarterly earnings results on Wednesday, November 13th.
On average, analysts expect that Meritor will report full-year earnings of $3.72 per share for the current fiscal year, with EPS estimates ranging from $3.70 to $3.77. For the next financial year, analysts forecast that the company will post earnings of $3.23 per share, with EPS estimates ranging from $3.00 to $3.40. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover Meritor.
Meritor (NYSE:MTOR) last released its earnings results on Wednesday, July 31st. The auto parts company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. Meritor had a net margin of 6.31% and a return on equity of 83.77%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter in the prior year, the firm posted $0.89 EPS. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year.
Several research firms recently issued reports on MTOR. Zacks Investment Research upgraded Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a research report on Thursday, August 1st. Longbow Research lowered Meritor from a “buy” rating to a “neutral” rating and set a $23.42 price objective for the company. in a research note on Monday, May 6th. Buckingham Research cut their price objective on Meritor from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, August 16th. ValuEngine lowered Meritor from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Finally, Stifel Nicolaus set a $29.00 price target on Meritor and gave the company a “buy” rating in a research report on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $26.18.
In other news, SVP Boise April Miller sold 31,830 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $17.38, for a total value of $553,205.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of MTOR. D L Carlson Investment Group Inc. purchased a new position in shares of Meritor during the second quarter worth about $1,956,000. United Services Automobile Association grew its position in Meritor by 5.8% in the 2nd quarter. United Services Automobile Association now owns 293,985 shares of the auto parts company’s stock worth $7,129,000 after purchasing an additional 16,199 shares during the last quarter. Nuveen Asset Management LLC bought a new position in Meritor in the 2nd quarter worth about $36,935,000. Price T Rowe Associates Inc. MD grew its position in Meritor by 2,068.9% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,154,290 shares of the auto parts company’s stock worth $27,992,000 after purchasing an additional 1,101,070 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in Meritor by 18.0% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 90,573 shares of the auto parts company’s stock worth $2,196,000 after purchasing an additional 13,831 shares during the last quarter. Institutional investors own 97.24% of the company’s stock.
MTOR stock traded down $0.83 during midday trading on Friday, hitting $16.92. The stock had a trading volume of 529,448 shares, compared to its average volume of 876,011. Meritor has a 52-week low of $15.01 and a 52-week high of $25.78. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 5.58 and a beta of 2.22. The business has a 50-day moving average of $21.48 and a two-hundred day moving average of $21.91. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.25 and a quick ratio of 0.76.
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.
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