BorgWarner (NYSE:BWA) Updates FY 2024 Earnings Guidance

BorgWarner (NYSE:BWA) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 4.150-4.300 for the period, compared to the consensus EPS 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.

BorgWarner Trading Down 0.6 %

Shares of BWA stock opened at $33.44 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The firm has a market cap 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 business has a 50-day moving average price of $34.06 and a two-hundred day moving average price of $33.86. BorgWarner has a 12-month low of $29.51 and a 12-month high of $38.22.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BWA shares. Robert W. Baird lifted their target price on shares of BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Wells Fargo & Company decreased their price objective on BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a report on Thursday, August 1st. The Goldman Sachs Group dropped their target price on BorgWarner from $38.00 to $36.00 and set a “neutral” rating for the company in a report on Tuesday, October 1st. Barclays lifted their price target on BorgWarner from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Finally, Wolfe Research started coverage on BorgWarner in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Six analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Insider Buying and Selling at BorgWarner

In other news, CAO Tonit M. Calaway sold 10,868 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Tonit M. Calaway sold 10,868 shares of the business’s 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 sale, the chief accounting officer now owns 206,083 shares of the company’s stock, valued at $6,541,074.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Tania Wingfield sold 2,066 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $32.00, for a total transaction of $66,112.00. Following the transaction, the executive vice president now directly owns 46,016 shares of the company’s stock, valued at $1,472,512. This represents a 0.00 % decrease in their position. 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.