$819.36 Million in Sales Expected for Meritor, Inc. (MTOR) This Quarter
Wall Street analysts expect Meritor, Inc. (NYSE:MTOR) to post $819.36 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Meritor’s earnings, with the highest sales estimate coming in at $832.89 million and the lowest estimate coming in at $799.00 million. Meritor reported sales of $728.00 million in the same quarter last year, which indicates a positive year over year growth rate of 12.5%. The firm is scheduled to announce its next earnings report on Wednesday, November 15th.
On average, analysts expect that Meritor will report full year sales of $819.36 million for the current year, with estimates ranging from $3.22 billion to $3.26 billion. For the next year, analysts expect that the business will report sales of $3.53 billion per share, with estimates ranging from $3.47 billion to $3.59 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Meritor.
Meritor (NYSE:MTOR) last issued its quarterly earnings results on Wednesday, August 2nd. The auto parts company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.20. Meritor had a negative return on equity of 106.67% and a net margin of 17.03%. The business had revenue of $920.00 million for the quarter, compared to the consensus estimate of $846.19 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. Meritor’s revenue for the quarter was up 9.4% compared to the same quarter last year.
Several analysts have issued reports on MTOR shares. KeyCorp reissued a “buy” rating and issued a $23.00 price target on shares of Meritor in a research note on Friday, September 8th. Buckingham Research started coverage on Meritor in a research note on Tuesday, September 5th. They issued a “buy” rating and a $25.00 price target on the stock. Barclays PLC lifted their price target on Meritor from $16.00 to $17.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. J P Morgan Chase & Co lifted their price target on Meritor from $19.00 to $21.50 and gave the company a “neutral” rating in a research note on Tuesday, September 12th. Finally, BidaskClub raised Meritor from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 22nd. Four equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. Meritor currently has a consensus rating of “Buy” and an average price target of $24.25.
In related news, SVP Robert H. Speed sold 4,192 shares of Meritor stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $19.23, for a total transaction of $80,612.16. Following the completion of the transaction, the senior vice president now owns 30,000 shares in the company, valued at $576,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.87% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd acquired a new stake in Meritor during the second quarter worth approximately $226,000. Verition Fund Management LLC acquired a new stake in Meritor during the second quarter worth approximately $254,000. Piedmont Investment Advisors LLC acquired a new stake in Meritor during the second quarter worth approximately $1,452,000. Sterling Capital Management LLC acquired a new stake in Meritor during the second quarter worth approximately $924,000. Finally, Ameritas Investment Partners Inc. lifted its position in Meritor by 8.8% during the second quarter. Ameritas Investment Partners Inc. now owns 7,355 shares of the auto parts company’s stock worth $122,000 after acquiring an additional 596 shares during the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.
Meritor (NYSE:MTOR) opened at 26.31 on Friday. Meritor has a 52 week low of $9.84 and a 52 week high of $27.03. The firm has a 50-day moving average price of $22.58 and a 200-day moving average price of $18.35. The stock has a market cap of $2.33 billion, a P/E ratio of 4.27 and a beta of 2.30.
Meritor Company Profile
Meritor, Inc is a supplier of a range of integrated systems, modules and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation and industrial sectors. The Company’s segments include Commercial Truck & Industrial and Aftermarket & Trailer.
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