Meritor Inc. (MTOR) Announces Earnings Results, Beats Estimates By $0.06 EPS
Meritor Inc. (NYSE:MTOR) announced its earnings results on Wednesday. The company reported $0.34 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.06. Meritor had a negative return on equity of 25.32% and a net margin of 2.35%. The company had revenue of $728 million for the quarter, compared to analysts’ expectations of $749.18 million. During the same period last year, the firm earned $0.39 EPS. Meritor’s revenue for the quarter was down 14.7% compared to the same quarter last year. Meritor updated its FY17 guidance to $1.25-1.40 EPS.
Meritor (NYSE:MTOR) opened at 12.02 on Wednesday. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 14.59 and a beta of 2.37. Meritor has a 12 month low of $5.69 and a 12 month high of $11.77. The stock’s 50 day moving average price is $10.71 and its 200-day moving average price is $9.45.
A number of brokerages have issued reports on MTOR. Longbow Research set a $14.00 price target on Meritor and gave the stock a “buy” rating in a research note on Tuesday, August 23rd. Barclays PLC set a $10.00 price target on Meritor and gave the stock a “hold” rating in a research note on Tuesday, November 8th. Citigroup Inc. increased their price target on Meritor from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Monday, August 8th. Finally, Zacks Investment Research upgraded Meritor from a “sell” rating to a “hold” rating in a research note on Friday, August 5th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $9.60.
Several large investors have recently made changes to their positions in the stock. AHL Partners LLP acquired a new position in Meritor during the second quarter worth about $107,000. Principal Financial Group Inc. increased its position in Meritor by 1.8% in the third quarter. Principal Financial Group Inc. now owns 11,796 shares of the company’s stock worth $131,000 after buying an additional 206 shares in the last quarter. SG Americas Securities LLC acquired a new position in Meritor during the third quarter worth about $156,000. BlackRock Inc. increased its position in Meritor by 174.9% in the second quarter. BlackRock Inc. now owns 29,912 shares of the company’s stock worth $216,000 after buying an additional 19,029 shares in the last quarter. Finally, Weber Alan W acquired a new position in Meritor during the second quarter worth about $235,000. 89.52% of the stock is currently owned by hedge funds and other institutional investors.
Meritor, Inc is engaged in the development, manufacture, sale, assembly, distribution, import and export of movement control systems for buses, trailers and trucks and their parts and components. It serves commercial truck, trailer, bus and coach and off-highway machinery manufacturers. The Company’s segments include commercial truck and industrial, and aftermarket and trailer.
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