BorgWarner Inc. (NYSE:BWA) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 6,594,500 shares, a growth of 16.5% from the May 15th total of 5,658,300 shares. Currently, 3.2% of the company’s stock are short sold. Based on an average trading volume of 1,670,000 shares, the short-interest ratio is currently 3.9 days.
BWA has been the topic of several analyst reports. ValuEngine upgraded Ultrapar Participacoes from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 4th. Credit Suisse Group assumed coverage on Magna International in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $55.00 target price on the stock. Zacks Investment Research downgraded Guaranty Federal Bancshares from a “hold” rating to a “sell” rating in a research report on Tuesday, April 23rd. Barclays raised Encompass Health from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $68.00 to $70.00 in a research report on Thursday, May 30th. Finally, Bank of America set a $64.00 price target on Verizon Communications and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. BorgWarner currently has a consensus rating of “Buy” and a consensus price target of $48.01.
Institutional investors have recently modified their holdings of the business. CSat Investment Advisory L.P. grew its holdings in BorgWarner by 93.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 999 shares of the auto parts company’s stock worth $35,000 after acquiring an additional 482 shares during the period. Bremer Bank National Association acquired a new stake in shares of BorgWarner in the 1st quarter valued at about $44,000. Bremer Trust National Association bought a new position in BorgWarner in the 4th quarter valued at about $47,000. Rehmann Capital Advisory Group lifted its position in BorgWarner by 186.6% in the 4th quarter. Rehmann Capital Advisory Group now owns 1,731 shares of the auto parts company’s stock valued at $60,000 after acquiring an additional 1,127 shares in the last quarter. Finally, Kinneret Advisory LLC bought a new position in BorgWarner in the 4th quarter valued at about $88,000. Hedge funds and other institutional investors own 90.07% of the company’s stock.
BorgWarner (NYSE:BWA) last posted its quarterly earnings data on Thursday, April 25th. The auto parts company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.06. The business had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.47 billion. BorgWarner had a return on equity of 21.64% and a net margin of 8.39%. BorgWarner’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.10 earnings per share. On average, research analysts anticipate that BorgWarner will post 4.2 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $0.68 dividend on an annualized basis and a yield of 1.70%. BorgWarner’s payout ratio is currently 15.18%.
BorgWarner Company Profile
BorgWarner Inc provides solutions for combustion, hybrid, and electric vehicles worldwide. It operates in two segments, Engine and Drivetrain. The Engine segment develops and manufactures turbochargers; eBoosters; and timing systems products, including timing chains, variable cam timing crankshaft and camshaft sprockets, tensioners, guides and snubbers, front-wheel drive transmission chains, four-wheel drive chains, and hybrid power transmission chains.
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