BorgWarner (NYSE:BWA) Issues FY24 Earnings Guidance

BorgWarner (NYSE:BWA) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $3.95-4.15 for the period, compared to the consensus earnings per share estimate of $4.07. The company issued revenue guidance of $14.1-14.4 billion, compared to the consensus revenue estimate of $14.73 billion. BorgWarner also updated its FY 2024 guidance to 3.950-4.150 EPS.

Analyst Ratings Changes

BWA has been the subject of several analyst reports. Citigroup reduced their target price on BorgWarner from $41.00 to $36.00 and set a neutral rating for the company in a report on Friday, July 12th. Bank of America decreased their price objective 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. Barclays raised their price target on BorgWarner from $44.00 to $45.00 and gave the company an overweight rating in a research report on Monday, May 6th. Robert W. Baird cut their price objective on BorgWarner from $40.00 to $38.00 and set a neutral rating for the company in a research report on Friday, July 12th. Finally, StockNews.com lowered shares of BorgWarner from a buy rating to a hold rating in a research report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $41.29.

BorgWarner Stock Performance

NYSE BWA opened at $34.68 on Wednesday. The firm has a market cap of $7.90 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 0.76 and a beta of 1.22. The company has a current ratio of 1.54, a quick ratio of 1.20 and a debt-to-equity ratio of 0.55. BorgWarner has a 1-year low of $29.51 and a 1-year high of $46.75. The company has a 50 day moving average of $33.43 and a 200-day moving average of $33.45.

BorgWarner (NYSE:BWA) last released its quarterly earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.51 billion. BorgWarner had a return on equity of 15.33% and a net margin of 4.02%. The business’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. On average, equities analysts forecast that BorgWarner will post 4.01 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Tuesday, September 3rd. BorgWarner’s dividend payout ratio is currently 16.67%.

BorgWarner declared that its board has initiated a stock repurchase plan on Thursday, May 2nd that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.