Meritor (NYSE:MTOR) Releases Earnings Results, Beats Expectations By $0.15 EPS
Meritor (NYSE:MTOR) issued its earnings results on Wednesday. The auto parts company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.15, Briefing.com reports. Meritor had a return on equity of 83.77% and a net margin of 6.31%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s revenue for the quarter was down 4.8% on a year-over-year basis. Meritor updated its FY20 guidance to $2.75-2.85 EPS.
NYSE MTOR traded up $0.92 on Thursday, reaching $24.70. The company had a trading volume of 1,395,593 shares, compared to its average volume of 880,192. The firm has a market capitalization of $1.96 billion, a PE ratio of 8.15 and a beta of 2.30. Meritor has a 1 year low of $15.01 and a 1 year high of $25.78. The firm has a 50-day moving average of $20.50 and a 200-day moving average of $21.02. The company has a debt-to-equity ratio of 1.44, a current ratio of 1.25 and a quick ratio of 0.76.
A number of analysts have recently issued reports on MTOR shares. Citigroup decreased their target price on Meritor from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Monday, August 26th. Zacks Investment Research upgraded Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 target price for the company in a report on Thursday, August 1st. Barclays decreased their target price on Meritor from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Buckingham Research decreased their target price on Meritor from $33.00 to $30.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, UBS Group decreased their target price on Meritor from $25.00 to $21.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $23.80.
Meritor Company Profile
Meritor, Inc designs, develops, manufactures, markets, distributes, sells, services, and supports integrated systems, modules, and components to original equipment manufacturers (OEMs) and the aftermarket for the commercial vehicle, transportation, and industrial sectors. It operates through two segments, Commercial Truck; and Aftermarket, Industrial and Trailer.
Further Reading: Capital Gains Distribution
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