BorgWarner (NYSE:BWA) Posts Quarterly Earnings Results

BorgWarner (NYSE:BWA) announced its quarterly earnings data on Thursday. The auto parts company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.17, Briefing.com reports. BorgWarner had a net margin of 4.97% and a return on equity of 15.50%. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.50 billion. During the same period in the previous year, the business posted $0.98 EPS. The business’s quarterly revenue was down 4.8% on a year-over-year basis. BorgWarner updated its FY 2024 guidance to 4.150-4.300 EPS and its FY24 guidance to $4.15-$4.30 EPS.

BorgWarner Stock Down 0.6 %

BWA traded down $0.19 during trading on Friday, reaching $33.44. The stock had a trading volume of 2,671,043 shares, compared to its average volume of 2,713,450. The company has a current ratio of 1.62, a quick ratio of 1.26 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 10.70, a P/E/G ratio of 0.73 and a beta of 1.20. The stock’s 50 day moving average is $34.06 and its two-hundred day moving average is $33.86. BorgWarner has a one year low of $29.51 and a one year high of $38.22.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have issued reports on BWA shares. StockNews.com upgraded shares of BorgWarner from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Wells Fargo & Company reduced their price target on BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Wolfe Research started coverage on BorgWarner in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. UBS Group raised their target price on shares of BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, Bank of America lowered their price target on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a report on Monday, July 22nd. Six research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.25.

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.