Garrett Motion (NYSE:GTX) Issues Quarterly Earnings Results

Garrett Motion (NYSE:GTX) released its quarterly earnings data on Thursday. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.04, Zacks reports. The business had revenue of $890.00 million for the quarter, compared to the consensus estimate of $950.00 million. Garrett Motion had a negative return on equity of 33.11% and a net margin of 6.44%. During the same quarter in the previous year, the company posted ($1.88) EPS. Garrett Motion updated its FY 2024 guidance to EPS.

Garrett Motion Price Performance

Shares of NYSE:GTX traded up $0.70 during trading on Friday, hitting $8.76. The company had a trading volume of 1,888,893 shares, compared to its average volume of 837,781. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of -7.62 and a beta of 1.21. The company has a fifty day simple moving average of $8.88 and a two-hundred day simple moving average of $9.19. Garrett Motion has a one year low of $6.43 and a one year high of $10.16.

Insider Activity

In other Garrett Motion news, major shareholder Cyrus Capital Partners, L.P. sold 3,779 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $10.01, for a total transaction of $37,827.79. Following the transaction, the insider now owns 27,337,398 shares in the company, valued at $273,647,353.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, BWS Financial decreased their price target on shares of Garrett Motion from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday.

Garrett Motion Company Profile

Garrett Motion Inc, together with its subsidiaries, designs, manufactures, and sells turbocharging, air and fluid compression, and high-speed electric motor technologies for original equipment manufacturers and distributors worldwide. The company offers cutting-edge technology for the mobility and industrial space, including light vehicles, commercial vehicles, and industrial applications.