Garrett Motion Inc (NYSE:GTX) – Analysts at Jefferies Financial Group lowered their Q3 2019 EPS estimates for shares of Garrett Motion in a report released on Thursday, October 17th. Jefferies Financial Group analyst D. Kelley now expects that the company will earn $0.80 per share for the quarter, down from their previous estimate of $0.81. Jefferies Financial Group also issued estimates for Garrett Motion’s Q4 2019 earnings at $0.94 EPS, FY2019 earnings at $3.56 EPS, Q1 2020 earnings at $0.80 EPS, Q2 2020 earnings at $0.74 EPS, Q3 2020 earnings at $0.66 EPS, Q4 2020 earnings at $0.78 EPS and FY2020 earnings at $2.97 EPS.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Garrett Motion from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank of Canada set a $14.00 price objective on shares of Garrett Motion and gave the company a “hold” rating in a report on Wednesday, July 31st. Morgan Stanley began coverage on shares of Garrett Motion in a report on Tuesday, September 10th. They issued an “underweight” rating and a $8.00 price objective for the company. Barclays cut their price objective on shares of Garrett Motion from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Finally, Bank of America raised shares of Garrett Motion from an “underperform” rating to a “neutral” rating and set a $22.00 price objective for the company in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Garrett Motion presently has a consensus rating of “Hold” and an average price target of $13.29.
GTX opened at $9.73 on Monday. Garrett Motion has a fifty-two week low of $8.64 and a fifty-two week high of $19.71. The company has a fifty day moving average of $10.12 and a two-hundred day moving average of $14.02. The stock has a market capitalization of $701.44 million and a price-to-earnings ratio of 2.40.
Garrett Motion (NYSE:GTX) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. Garrett Motion had a net margin of 34.50% and a negative return on equity of 44.81%. The company had revenue of $802.00 million during the quarter, compared to analysts’ expectations of $831.99 million. During the same quarter in the previous year, the company earned $2.03 earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Baxter Bros Inc. grew its position in shares of Garrett Motion by 4.3% in the second quarter. Baxter Bros Inc. now owns 16,757 shares of the company’s stock valued at $257,000 after purchasing an additional 698 shares during the period. 6 Meridian grew its position in shares of Garrett Motion by 1.6% in the second quarter. 6 Meridian now owns 48,018 shares of the company’s stock valued at $737,000 after purchasing an additional 739 shares during the period. Goodnow Investment Group LLC grew its position in shares of Garrett Motion by 1.2% in the second quarter. Goodnow Investment Group LLC now owns 101,220 shares of the company’s stock valued at $1,554,000 after purchasing an additional 1,220 shares during the period. Arizona State Retirement System grew its position in shares of Garrett Motion by 1.3% in the second quarter. Arizona State Retirement System now owns 115,686 shares of the company’s stock valued at $1,776,000 after purchasing an additional 1,505 shares during the period. Finally, KBC Group NV grew its position in shares of Garrett Motion by 5.9% in the second quarter. KBC Group NV now owns 30,031 shares of the company’s stock valued at $461,000 after purchasing an additional 1,663 shares during the period. Institutional investors and hedge funds own 84.06% of the company’s stock.
Garrett Motion Company Profile
Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.
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