Meritor Inc. (MTOR) Updates FY17 Earnings Guidance
Meritor Inc. (NYSE:MTOR) issued an update on its FY17 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $1.25-1.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.52. The company issued revenue guidance of $3.0-3.1 billion, compared to the consensus revenue estimate of $3.14 billion.
Meritor Inc. (NYSE:MTOR) opened at 12.29 on Thursday. The company has a 50-day moving average price of $10.83 and a 200 day moving average price of $9.54. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 14.92 and a beta of 2.37. Meritor Inc. has a 1-year low of $5.69 and a 1-year high of $12.57.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, November 16th. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.06. The firm earned $728 million during the quarter, compared to analyst estimates of $747.98 million. Meritor had a negative return on equity of 25.32% and a net margin of 2.35%. The firm’s quarterly revenue was down 14.7% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. Equities analysts anticipate that Meritor Inc. will post $1.60 earnings per share for the current year.
A number of equities analysts have issued reports on MTOR shares. Longbow Research set a $14.00 price target on Meritor and gave the company a buy rating in a research note on Tuesday, August 23rd. Barclays PLC set a $10.00 price target on Meritor and gave the company 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 company a neutral rating in a research note on Monday, August 8th. Finally, Zacks Investment Research raised Meritor from a sell rating to a hold rating in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $9.60.
Several large investors have recently added to or reduced their stakes in MTOR. AHL Partners LLP acquired a new stake in shares of Meritor during the second quarter valued at approximately $107,000. Principal Financial Group Inc. boosted its stake in shares of Meritor by 1.8% in the third quarter. Principal Financial Group Inc. now owns 11,796 shares of the company’s stock valued at $131,000 after buying an additional 206 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Meritor during the third quarter valued at approximately $156,000. BlackRock Inc. boosted its stake in shares of Meritor by 174.9% in the second quarter. BlackRock Inc. now owns 29,912 shares of the company’s stock valued at $216,000 after buying an additional 19,029 shares during the period. Finally, Weber Alan W acquired a new stake in shares of Meritor during the second quarter valued at approximately $235,000. 89.52% of the stock is owned by institutional investors and hedge funds.
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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