BorgWarner Inc. (NYSE:BWA – Get Rating) – Equities researchers at Oppenheimer dropped their Q2 2022 EPS estimates for shares of BorgWarner in a note issued to investors on Thursday, May 5th. Oppenheimer analyst N. Kaye now forecasts that the auto parts company will earn $0.85 per share for the quarter, down from their prior forecast of $0.99. Oppenheimer also issued estimates for BorgWarner’s Q3 2022 earnings at $0.99 EPS, Q4 2022 earnings at $1.11 EPS, FY2022 earnings at $3.99 EPS and FY2023 earnings at $4.57 EPS.
BorgWarner (NYSE:BWA – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The auto parts company reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.19. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.71 billion. BorgWarner had a net margin of 4.57% and a return on equity of 13.34%. The company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.21 EPS.
Shares of BWA stock opened at $37.97 on Monday. The company has a market capitalization of $9.11 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.32 and a beta of 1.35. BorgWarner has a one year low of $34.85 and a one year high of $55.55. The company’s fifty day moving average price is $37.79 and its 200-day moving average price is $42.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.72 and a quick ratio of 1.33.
Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp increased its stake in BorgWarner by 3.7% during the 4th quarter. State Street Corp now owns 10,247,042 shares of the auto parts company’s stock valued at $461,834,000 after purchasing an additional 369,492 shares in the last quarter. Victory Capital Management Inc. increased its stake in BorgWarner by 3.9% during the 1st quarter. Victory Capital Management Inc. now owns 10,109,422 shares of the auto parts company’s stock valued at $393,159,000 after purchasing an additional 375,207 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in BorgWarner by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,318,174 shares of the auto parts company’s stock valued at $273,023,000 after purchasing an additional 22,749 shares in the last quarter. Franklin Resources Inc. increased its stake in BorgWarner by 7.9% during the 3rd quarter. Franklin Resources Inc. now owns 5,696,194 shares of the auto parts company’s stock valued at $246,133,000 after purchasing an additional 418,828 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in BorgWarner by 3.7% during the 4th quarter. American Century Companies Inc. now owns 5,242,188 shares of the auto parts company’s stock valued at $236,265,000 after purchasing an additional 186,383 shares in the last quarter. 90.96% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Felecia J. Pryor sold 6,590 shares of the company’s stock in a transaction that occurred on Wednesday, March 9th. The shares were sold at an average price of $38.01, for a total value of $250,485.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.54% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st will be given a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.68 annualized dividend and a yield of 1.79%. BorgWarner’s dividend payout ratio (DPR) is 24.20%.
About BorgWarner (Get Rating)
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. The company operates through four segments: Air Management, E-Propulsion & Drivetrain, Fuel Injection, and Aftermarket. The Air Management segment offers turbochargers, eBoosters, eTurbos, timing systems, emissions systems, thermal systems, gasoline ignition technology, smart remote actuators, powertrain sensors, canisters, cabin heaters, battery modules and systems, battery packs, battery heaters, and battery charging.
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