Jefferies Financial Group initiated coverage on shares of BorgWarner (NYSE:BWA) in a research note released on Tuesday morning, Marketbeat reports. The brokerage issued a buy rating and a $48.00 price objective on the auto parts company’s stock. Jefferies Financial Group also issued estimates for BorgWarner’s Q4 2018 earnings at $1.07 EPS, FY2018 earnings at $4.35 EPS, Q1 2019 earnings at $1.16 EPS, Q2 2019 earnings at $1.16 EPS, Q3 2019 earnings at $1.11 EPS, Q4 2019 earnings at $1.18 EPS, FY2019 earnings at $4.61 EPS and FY2020 earnings at $4.96 EPS.
Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets set a $60.00 price objective on shares of BorgWarner and gave the stock a buy rating in a research report on Thursday, September 20th. ValuEngine cut shares of BorgWarner from a sell rating to a strong sell rating in a research report on Saturday, September 1st. Buckingham Research cut their price objective on shares of BorgWarner from $55.00 to $48.00 and set a neutral rating on the stock in a research report on Wednesday, October 3rd. Royal Bank of Canada cut their price objective on shares of BorgWarner to $49.00 and set a positive rating on the stock in a research report on Wednesday, September 19th. Finally, Wolfe Research assumed coverage on shares of BorgWarner in a research report on Tuesday, October 2nd. They set an outperform rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the company’s stock. BorgWarner presently has an average rating of Buy and a consensus target price of $53.79.
Shares of BWA opened at $35.74 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.28 and a debt-to-equity ratio of 0.50. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 8.57, a PEG ratio of 1.19 and a beta of 1.80. BorgWarner has a 12 month low of $35.56 and a 12 month high of $58.22.
BorgWarner (NYSE:BWA) last issued its quarterly earnings results on Thursday, October 25th. The auto parts company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.99 by $0.01. The business had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.45 billion. BorgWarner had a net margin of 5.26% and a return on equity of 22.68%. As a group, sell-side analysts predict that BorgWarner will post 4.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Monday, December 3rd will be issued a $0.17 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.90%. BorgWarner’s dividend payout ratio is presently 17.48%.
In related news, Director Alexis P. Michas sold 10,003 shares of the company’s stock in a transaction dated Monday, November 26th. The shares were sold at an average price of $39.99, for a total value of $400,019.97. Following the sale, the director now owns 78,223 shares in the company, valued at approximately $3,128,137.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brady D. Ericson sold 16,780 shares of the company’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $39.70, for a total transaction of $666,166.00. Following the completion of the sale, the insider now owns 18,089 shares in the company, valued at approximately $718,133.30. The disclosure for this sale can be found here. Insiders sold a total of 38,475 shares of company stock worth $1,526,992 in the last 90 days. 0.74% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of BWA. Capital International Investors acquired a new stake in shares of BorgWarner in the 3rd quarter worth about $192,510,000. American Century Companies Inc. increased its stake in BorgWarner by 37,503.3% in the 3rd quarter. American Century Companies Inc. now owns 3,489,587 shares of the auto parts company’s stock valued at $149,285,000 after buying an additional 3,480,307 shares during the last quarter. BlackRock Inc. increased its stake in BorgWarner by 14.5% in the 2nd quarter. BlackRock Inc. now owns 19,874,263 shares of the auto parts company’s stock valued at $857,773,000 after buying an additional 2,517,481 shares during the last quarter. JPMorgan Chase & Co. increased its stake in BorgWarner by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,635,725 shares of the auto parts company’s stock valued at $283,875,000 after buying an additional 1,661,618 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in BorgWarner by 1,701.9% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,315,009 shares of the auto parts company’s stock valued at $56,256,000 after buying an additional 1,242,029 shares during the last quarter. Institutional investors own 90.60% of the company’s stock.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates through two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; and timing systems, such as timing chains, variable cam timing products, crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains for light vehicles, and hybrid power transmission chains.
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