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 earnings per share guidance of 4.150-4.300 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

BWA has been the topic of several recent research reports. StockNews.com upgraded BorgWarner from a “hold” rating to a “buy” rating in a report on Friday, August 2nd. Wolfe Research began coverage on BorgWarner in a research report on Thursday, September 5th. They set a “peer perform” rating for the company. Barclays increased their price target on BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their price objective on shares of BorgWarner from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Robert W. Baird raised their target price on shares of BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $41.25.

BorgWarner Stock Performance

BWA stock traded down $0.19 during trading on Friday, reaching $33.44. 2,739,690 shares of the stock were exchanged, 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 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 P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.73 and a beta of 1.20. The stock has a 50 day simple moving average of $34.06 and a 200-day simple moving average of $33.86.

BorgWarner (NYSE:BWA) last announced its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.17. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.50 billion. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. BorgWarner’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. As a group, sell-side analysts anticipate that BorgWarner will post 4.09 earnings per share for the current year.

Insider Buying and Selling at BorgWarner

In related news, EVP Tania Wingfield sold 2,066 shares of the stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 46,016 shares of the company’s stock, valued at $1,472,512. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Tania Wingfield sold 2,066 shares of the business’s 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 owns 46,016 shares of the company’s stock, valued at $1,472,512. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Tonit M. Calaway sold 10,868 shares of the stock in a transaction on 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 of the company’s stock, valued at $6,541,074.42. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.45% of the company’s stock.

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.