Equities analysts expect that Meritor Inc (NYSE:MTOR) will announce earnings of $0.76 per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Meritor’s earnings. The lowest EPS estimate is $0.73 and the highest is $0.82. Meritor reported earnings per share of $0.64 in the same quarter last year, which indicates a positive year-over-year growth rate of 18.8%. The business is scheduled to announce its next earnings report on Wednesday, August 1st.
According to Zacks, analysts expect that Meritor will report full year earnings of $2.78 per share for the current year, with EPS estimates ranging from $2.75 to $2.80. For the next fiscal year, analysts anticipate that the business will post earnings of $3.17 per share, with EPS estimates ranging from $3.10 to $3.30. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Meritor.
Meritor (NYSE:MTOR) last announced its earnings results on Thursday, May 3rd. The auto parts company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $974.09 million. Meritor had a return on equity of 115.74% and a net margin of 8.08%. Meritor’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 EPS.
A number of equities research analysts have commented on the company. Stifel Nicolaus set a $27.00 target price on Meritor and gave the company a “buy” rating in a report on Friday, May 4th. ValuEngine cut Meritor from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research cut Meritor from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 24th. Barclays lowered their target price on Meritor from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 17th. Finally, Piper Jaffray Companies set a $35.00 target price on Meritor and gave the company a “buy” rating in a report on Tuesday, March 13th. Six research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Meritor presently has a consensus rating of “Buy” and an average target price of $28.41.
In other news, SVP Joseph A. Plomin sold 15,826 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $25.64, for a total transaction of $405,778.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.32% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. WINTON GROUP Ltd acquired a new position in Meritor in the first quarter valued at $566,000. Wesbanco Bank Inc. acquired a new position in Meritor in the first quarter valued at $620,000. Royal Bank of Canada boosted its holdings in Meritor by 988.3% in the first quarter. Royal Bank of Canada now owns 142,542 shares of the auto parts company’s stock valued at $2,930,000 after acquiring an additional 129,444 shares during the last quarter. Millennium Management LLC boosted its holdings in Meritor by 38.3% in the first quarter. Millennium Management LLC now owns 2,119,759 shares of the auto parts company’s stock valued at $43,582,000 after acquiring an additional 587,065 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in Meritor by 74.6% in the first quarter. Verition Fund Management LLC now owns 66,767 shares of the auto parts company’s stock valued at $1,373,000 after acquiring an additional 28,527 shares during the last quarter. Hedge funds and other institutional investors own 93.02% of the company’s stock.
NYSE:MTOR traded down $0.21 during trading hours on Tuesday, reaching $21.94. 472,600 shares of the company traded hands, compared to its average volume of 1,223,245. The stock has a market cap of $1.93 billion, a PE ratio of 11.67 and a beta of 2.55. The company has a debt-to-equity ratio of 2.34, a quick ratio of 0.72 and a current ratio of 1.16. Meritor has a 1-year low of $14.97 and a 1-year high of $29.54.
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 & Industrial; and Aftermarket & Trailer.
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