BorgWarner (NYSE:BWA) Updates FY 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. The Goldman Sachs Group decreased their target price on BorgWarner from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Bank of America lowered their target price on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research note on Monday, July 22nd. Barclays boosted their price target on BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Robert W. Baird upped their price objective on shares of BorgWarner from $38.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Finally, Wolfe Research initiated coverage on shares of BorgWarner in a research report on Thursday, September 5th. They issued a “peer perform” rating for the company. Six investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $41.25.

BorgWarner Price Performance

Shares of NYSE:BWA opened at $33.44 on Friday. The company has a market capitalization 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 company’s 50-day moving average is $34.06 and its 200 day moving average is $33.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.26 and a current ratio of 1.62. BorgWarner has a fifty-two week low of $29.51 and a fifty-two week high of $38.22.

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

Insider Transactions at BorgWarner

In related news, EVP Tania Wingfield sold 2,066 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total transaction of $66,112.00. Following the sale, the executive vice president now owns 46,016 shares of the company’s stock, valued at approximately $1,472,512. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Tania Wingfield sold 2,066 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $32.00, for a total value of $66,112.00. Following the sale, the executive vice president now owns 46,016 shares in the company, valued at approximately $1,472,512. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Tonit M. Calaway sold 10,868 shares of BorgWarner stock in a transaction on Monday, August 5th. The shares were sold at an average price of $31.74, for a total value of $344,950.32. Following the sale, the chief accounting officer now directly owns 206,083 shares of the company’s stock, valued at $6,541,074.42. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.

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.