BorgWarner (NYSE:BWA) Updates FY 2024 Earnings Guidance

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

BorgWarner Price Performance

BWA stock traded down $0.19 during midday trading on Friday, reaching $33.44. The company had a trading volume of 2,739,690 shares, compared to its average volume of 2,713,774. BorgWarner has a 1-year low of $29.51 and a 1-year high of $38.22. The stock has a 50 day moving average price of $34.06 and a 200-day moving average price of $33.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.62 and a quick ratio of 1.26. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 0.73 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BWA shares. Barclays raised their price objective on BorgWarner from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Bank of America lowered their price objective on shares of BorgWarner from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut their target price on shares of BorgWarner from $51.00 to $50.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. UBS Group raised their price objective on BorgWarner from $41.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Finally, Evercore ISI raised BorgWarner from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $39.00 to $43.00 in a report on Monday, October 14th. Six analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.25.

Insider Buying and Selling

In related news, CAO Tonit M. Calaway sold 10,868 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $31.74, for a total transaction of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at $6,541,074.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other BorgWarner news, CAO Tonit M. Calaway sold 10,868 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $31.74, for a total value of $344,950.32. Following the transaction, the chief accounting officer now owns 206,083 shares in the company, valued at approximately $6,541,074.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tania Wingfield sold 2,066 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 of the company’s stock, valued at approximately $1,472,512. 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 insiders.

About BorgWarner

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.