BorgWarner (NYSE:BWA) Issues FY 2024 Earnings Guidance

BorgWarner (NYSE:BWA) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 4.150-4.300 for the period, compared to the consensus EPS estimate of 4.100. The company issued revenue guidance of $14.0 billion-$14.2 billion, compared to the consensus revenue estimate of $14.3 billion. BorgWarner also updated its FY24 guidance to $4.15-$4.30 EPS.

BorgWarner Trading Down 2.0 %

Shares of BWA stock opened at $33.55 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 1.62. BorgWarner has a 1 year low of $29.51 and a 1 year high of $38.22. The stock has a fifty day moving average of $34.06 and a two-hundred day moving average of $33.86. The firm has a market capitalization of $7.64 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 0.81 and a beta of 1.20.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.18. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The company had revenue of $3.60 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm posted $1.35 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. As a group, research analysts expect that BorgWarner will post 4.1 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on BWA shares. Evercore ISI upgraded BorgWarner from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $39.00 to $43.00 in a report on Monday, October 14th. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. reduced their target price on BorgWarner from $51.00 to $50.00 and set an “overweight” rating for the company in a report on Monday, October 21st. The Goldman Sachs Group reduced their target price on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Finally, Wells Fargo & Company reduced their target price on BorgWarner from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.25.

Insider Activity at BorgWarner

In related news, EVP Tania Wingfield sold 2,066 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total transaction of $66,112.00. Following the transaction, the executive vice president now directly owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other BorgWarner news, CAO Tonit M. Calaway sold 10,868 shares of the company’s 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 directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tania Wingfield sold 2,066 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total value of $66,112.00. Following the completion of the transaction, the executive vice president now directly owns 46,016 shares in the company, valued at approximately $1,472,512. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.45% of the stock is owned by insiders.

BorgWarner Company Profile

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.