Meritor (NYSE:MTOR – Get Rating) released its earnings results on Tuesday. The auto parts company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02, MarketWatch Earnings reports. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.07 billion. Meritor had a net margin of 5.63% and a return on equity of 33.16%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.68 EPS.
Shares of MTOR stock traded up $0.03 on Tuesday, reaching $35.97. The company’s stock had a trading volume of 15,531 shares, compared to its average volume of 1,295,065. The stock’s fifty day simple moving average is $35.65 and its 200-day simple moving average is $29.02. Meritor has a 1 year low of $20.50 and a 1 year high of $36.28. The company has a current ratio of 1.43, a quick ratio of 0.75 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 0.59 and a beta of 1.63.
MTOR has been the subject of several analyst reports. Barclays reduced their target price on shares of Meritor from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Thursday, January 27th. Citigroup lowered shares of Meritor from a “buy” rating to a “neutral” rating and increased their target price for the stock from $34.00 to $36.50 in a report on Tuesday, March 1st. StockNews.com started coverage on shares of Meritor in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Royal Bank of Canada lowered shares of Meritor from an “outperform” rating to a “sector perform” rating and set a $36.50 price objective for the company. in a report on Wednesday, February 23rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Meritor presently has an average rating of “Hold” and a consensus target price of $31.33.
Several hedge funds have recently bought and sold shares of MTOR. Public Employees Retirement System of Ohio grew its holdings in shares of Meritor by 9.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 6,136 shares of the auto parts company’s stock valued at $152,000 after purchasing an additional 520 shares in the last quarter. Stifel Financial Corp bought a new stake in Meritor in the fourth quarter worth $246,000. LPL Financial LLC bought a new stake in Meritor in the fourth quarter worth $262,000. Royal Bank of Canada lifted its position in Meritor by 13.1% in the third quarter. Royal Bank of Canada now owns 17,574 shares of the auto parts company’s stock worth $374,000 after buying an additional 2,040 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its position in Meritor by 17.1% in the fourth quarter. Squarepoint Ops LLC now owns 23,798 shares of the auto parts company’s stock worth $590,000 after buying an additional 3,473 shares during the last quarter. 96.26% of the stock is owned by hedge funds and other institutional investors.
About Meritor (Get Rating)
Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components in North America, South America, Europe, and the Asia Pacific. It operates through two segments, Commercial Truck, and Aftermarket and Industrial. The company offers axles, including front steer and rear drive axles for medium- and heavy-duty commercial vehicles; heavy-duty trailer axles; suspension modules and brake products comprising drum and disc brakes; universal joints and driveline components; trailer air suspension systems and products; transfer cases and drivelines; and advanced suspension modules for use in light-, medium- and heavy-duty military tactical wheeled vehicles.
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