Q3 2024 EPS Estimates for BorgWarner Inc. Decreased by Analyst (NYSE:BWA)

BorgWarner Inc. (NYSE:BWA) – Analysts at Zacks Research dropped their Q3 2024 EPS estimates for BorgWarner in a report issued on Wednesday, August 21st. Zacks Research analyst R. Department now forecasts that the auto parts company will post earnings per share of $0.95 for the quarter, down from their prior estimate of $1.01. The consensus estimate for BorgWarner’s current full-year earnings is $4.06 per share. Zacks Research also issued estimates for BorgWarner’s Q4 2024 earnings at $0.97 EPS, FY2024 earnings at $4.14 EPS, Q1 2025 earnings at $1.09 EPS and Q3 2025 earnings at $1.18 EPS.

Other equities analysts also recently issued reports about the company. Robert W. Baird upped their price target on BorgWarner from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Barclays increased 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. TD Cowen upped their price objective on shares of BorgWarner from $36.00 to $40.00 and gave the company a “buy” rating in a report on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on shares of BorgWarner from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Finally, Wells Fargo & Company dropped their target price on shares of BorgWarner from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $41.07.

BorgWarner Trading Up 1.8 %

NYSE BWA opened at $33.08 on Thursday. BorgWarner has a 52 week low of $29.51 and a 52 week high of $42.27. The company has a 50 day moving average price of $32.65 and a 200 day moving average price of $33.34. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 0.52. The firm has a market cap of $7.54 billion, a PE ratio of 12.53, a price-to-earnings-growth ratio of 0.78 and a beta of 1.22.

BorgWarner (NYSE:BWA) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.18. BorgWarner had a return on equity of 15.50% and a net margin of 4.97%. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business posted $1.35 EPS. The business’s revenue was down 20.3% compared to the same quarter last year.

Hedge Funds Weigh In On BorgWarner

Several hedge funds and other institutional investors have recently made changes to their positions in BWA. Norges Bank purchased a new stake in shares of BorgWarner during the fourth quarter worth $75,489,000. Point72 Asset Management L.P. lifted its stake in BorgWarner by 361.1% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,450,696 shares of the auto parts company’s stock worth $79,010,000 after purchasing an additional 1,919,219 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of BorgWarner by 23.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 8,628,733 shares of the auto parts company’s stock worth $278,190,000 after purchasing an additional 1,640,503 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of BorgWarner by 10.9% in the fourth quarter. Victory Capital Management Inc. now owns 9,668,438 shares of the auto parts company’s stock valued at $346,614,000 after purchasing an additional 948,659 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in BorgWarner by 43.5% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 2,213,630 shares of the auto parts company’s stock worth $79,359,000 after buying an additional 670,720 shares in the last quarter. Hedge funds and other institutional investors own 95.67% of the company’s stock.

Insider Buying and Selling

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

BorgWarner declared that its board has approved a stock repurchase program on Thursday, May 2nd that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to buy up to 6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

BorgWarner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Tuesday, September 3rd will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Tuesday, September 3rd. BorgWarner’s dividend payout ratio is currently 16.67%.

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.