Wall Street brokerages predict that Meritor Inc (NYSE:MTOR) will report earnings of $0.61 per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Meritor’s earnings. The highest EPS estimate is $0.65 and the lowest is $0.58. Meritor reported earnings of $0.62 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 1.6%. The business is scheduled to report its next quarterly earnings report before the market opens on Wednesday, January 30th.
According to Zacks, analysts expect that Meritor will report full year earnings of $3.18 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.20. For the next financial year, analysts expect that the firm will post earnings of $3.08 per share, with EPS estimates ranging from $2.85 to $3.25. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Meritor.
Meritor (NYSE:MTOR) last announced its quarterly earnings data on Wednesday, November 14th. The auto parts company reported $0.82 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.04. Meritor had a return on equity of 92.31% and a net margin of 2.80%. The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The business’s revenue was up 17.1% on a year-over-year basis.
A number of equities analysts recently commented on MTOR shares. KeyCorp started coverage on Meritor in a report on Monday, December 10th. They set a “sector weight” rating for the company. Barclays restated a “hold” rating and set a $21.00 target price (down previously from $22.00) on shares of Meritor in a report on Sunday, November 18th. ValuEngine upgraded Meritor from a “strong sell” rating to a “sell” rating in a report on Monday, December 17th. Stifel Nicolaus restated a “buy” rating and set a $24.00 target price on shares of Meritor in a report on Sunday, November 18th. Finally, Citigroup decreased their target price on Meritor from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, November 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Meritor has an average rating of “Hold” and a consensus target price of $26.83.
MTOR stock traded up $0.13 during midday trading on Wednesday, hitting $18.58. The company had a trading volume of 29,203 shares, compared to its average volume of 972,080. The company has a debt-to-equity ratio of 2.30, a quick ratio of 0.69 and a current ratio of 1.13. Meritor has a 52 week low of $15.01 and a 52 week high of $29.54. The company has a market capitalization of $1.54 billion, a P/E ratio of 6.14 and a beta of 1.98.
In related news, CFO Kevin Nowlan sold 58,035 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $16.09, for a total value of $933,783.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Paul Bialy sold 2,697 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $16.06, for a total value of $43,313.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 333,133 shares of company stock valued at $5,355,182. 2.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of MTOR. Matarin Capital Management LLC purchased a new stake in Meritor in the third quarter worth $10,325,000. Royce & Associates LP grew its stake in Meritor by 27.6% in the third quarter. Royce & Associates LP now owns 2,291,463 shares of the auto parts company’s stock worth $44,363,000 after purchasing an additional 495,454 shares during the period. TIAA CREF Investment Management LLC grew its stake in Meritor by 179.4% in the third quarter. TIAA CREF Investment Management LLC now owns 521,268 shares of the auto parts company’s stock worth $10,092,000 after purchasing an additional 334,730 shares during the period. Renaissance Technologies LLC grew its stake in Meritor by 131.7% in the third quarter. Renaissance Technologies LLC now owns 588,100 shares of the auto parts company’s stock worth $11,386,000 after purchasing an additional 334,300 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in Meritor by 85.6% in the third quarter. Assenagon Asset Management S.A. now owns 589,563 shares of the auto parts company’s stock worth $11,414,000 after purchasing an additional 271,915 shares during the period. 89.89% of the stock is currently owned by institutional investors.
Meritor Company Profile
Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck & Trailer; and Aftermarket & Industrial.
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