BorgWarner (NYSE:BWA) Updates FY 2024 Earnings Guidance

BorgWarner (NYSE:BWA) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 3.800-4.150 for the period, compared to the consensus estimate of 3.900. The company issued revenue guidance of $14.4 billion-$14.9 billion, compared to the consensus revenue estimate of $14.8 billion.

BorgWarner Price Performance

Shares of BWA traded up $0.81 during trading hours on Friday, hitting $36.44. 4,823,602 shares of the company were exchanged, compared to its average volume of 2,896,684. The firm’s fifty day moving average is $32.98 and its 200 day moving average is $33.79. BorgWarner has a fifty-two week low of $29.51 and a fifty-two week high of $50.04. The company has a quick ratio of 1.30, a current ratio of 1.65 and a debt-to-equity ratio of 0.61. The company has a market cap of $8.37 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.98 and a beta of 1.30.

BorgWarner (NYSE:BWA) last released its earnings results on Thursday, May 2nd. The auto parts company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.16. The firm had revenue of $3.60 billion for the quarter, compared to analysts’ expectations of $3.51 billion. BorgWarner had a return on equity of 14.69% and a net margin of 3.94%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 earnings per share. On average, equities analysts anticipate that BorgWarner will post 3.9 earnings per share for the current fiscal year.

BorgWarner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be issued a $0.11 dividend. The ex-dividend date is Monday, June 3rd. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.21%. BorgWarner’s dividend payout ratio (DPR) is currently 16.48%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BWA shares. TheStreet lowered shares of BorgWarner from a b- rating to a c+ rating in a report on Thursday, February 8th. Barclays raised their price objective on shares of BorgWarner from $40.00 to $44.00 and gave the company an overweight rating in a report on Thursday, April 11th. Wells Fargo & Company raised their price objective on shares of BorgWarner from $43.00 to $45.00 and gave the company an overweight rating in a report on Friday. BNP Paribas lowered shares of BorgWarner from an outperform rating to a neutral rating and dropped their price objective for the company from $43.00 to $35.00 in a report on Tuesday, February 20th. Finally, Piper Sandler assumed coverage on shares of BorgWarner in a report on Friday, March 15th. They issued an overweight rating and a $43.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $43.93.

Insider Buying and Selling at BorgWarner

In other BorgWarner news, CAO Tonit M. Calaway sold 35,603 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the transaction, the chief accounting officer now directly owns 83,348 shares in the company, valued at approximately $2,679,638.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CAO Tonit M. Calaway sold 35,603 shares of BorgWarner stock in a transaction on Monday, February 12th. The stock was sold at an average price of $32.15, for a total transaction of $1,144,636.45. Following the sale, the chief accounting officer now directly owns 83,348 shares in the company, valued at approximately $2,679,638.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederic Lissalde sold 225,900 shares of BorgWarner stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $31.08, for a total value of $7,020,972.00. Following the sale, the chief executive officer now owns 455,227 shares in the company, valued at $14,148,455.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 287,503 shares of company stock worth $9,015,478. Corporate insiders own 0.45% of the company’s stock.

About BorgWarner

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.