Garrett Motion (NYSE:GTX) Issues Earnings Results

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Garrett Motion (NYSE:GTX) released its earnings results on Friday. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.33), Briefing.com reports. Garrett Motion had a net margin of 34.50% and a negative return on equity of 44.81%. The business had revenue of $781.00 million for the quarter, compared to analyst estimates of $777.45 million. During the same quarter in the previous year, the company posted $12.54 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis.

Shares of NYSE:GTX traded down $0.52 during mid-day trading on Friday, reaching $9.95. The stock had a trading volume of 973,834 shares, compared to its average volume of 777,497. The firm has a market cap of $781.28 million and a PE ratio of 2.46. The firm has a 50 day simple moving average of $9.81 and a two-hundred day simple moving average of $13.40. Garrett Motion has a twelve month low of $8.46 and a twelve month high of $19.71.

GTX has been the topic of a number of research reports. Bank of America upgraded shares of Garrett Motion from an “underperform” rating to a “neutral” rating and set a $22.00 target price on the stock in a research report on Friday, September 13th. Zacks Investment Research downgraded shares of Garrett Motion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Morgan Stanley initiated coverage on shares of Garrett Motion in a research report on Tuesday, September 10th. They issued an “underweight” rating and a $8.00 price target on the stock. ValuEngine upgraded shares of Garrett Motion from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Barclays cut their price target on shares of Garrett Motion from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the stock. Garrett Motion has an average rating of “Hold” and a consensus price target of $13.29.

About Garrett Motion

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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