BorgWarner (NYSE:BWA) Updates FY24 Earnings Guidance

BorgWarner (NYSE:BWA) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $4.15-$4.30 for the period, compared to the consensus EPS estimate of $4.10. The company issued revenue guidance of $14.0-$14.2 billion, compared to the consensus revenue estimate of $14.25 billion. BorgWarner also updated its FY 2024 guidance to 4.150-4.300 EPS.

BorgWarner Stock Performance

NYSE:BWA traded down $0.19 during mid-day trading on Friday, hitting $33.44. The stock had a trading volume of 2,739,690 shares, compared to its average volume of 2,713,774. BorgWarner has a twelve month low of $29.51 and a twelve month high of $38.22. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 1.62. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of 10.75, a PEG ratio of 0.73 and a beta of 1.20. The company’s 50 day simple moving average is $34.06 and its 200 day simple moving average is $33.86.

BorgWarner (NYSE:BWA) last released its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.50 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The business’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm posted $0.98 earnings per share. On average, equities research analysts forecast that BorgWarner will post 4.09 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BWA shares. Barclays increased their price objective on shares of BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Wells Fargo & Company cut their price objective on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Thursday, August 1st. UBS Group increased their target price on BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. The Goldman Sachs Group reduced their price target on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $36.00 price objective on shares of BorgWarner in a research report on Tuesday, September 10th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, BorgWarner has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Insider Buying and Selling at BorgWarner

In other news, EVP Tania Wingfield sold 2,066 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total transaction of $66,112.00. Following the completion of the sale, the executive vice president now owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other BorgWarner news, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at $6,541,074.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tania Wingfield sold 2,066 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total transaction of $66,112.00. Following the completion of the transaction, the executive vice president now directly owns 46,016 shares of the company’s stock, valued at $1,472,512. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

About BorgWarner

BorgWarner Inc, together with its subsidiaries, provides solutions for combustion, hybrid, and electric vehicles worldwide. It offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, cabin heaters, battery modules and systems, battery heaters, and battery charging.