Equities researchers at Jefferies Group (NYSE: JEF) dropped their earnings per share (EPS) estimates on shares of BorgWarner (NYSE: BWA) in a report issued on Friday. The firm currently has a “hold” rating and a $81.00 target price on the company’s shares.
The analysts wrote, “We hosted an investor bus tour of auto names (including BWA) this week in Detroit. The dominant theme across our meetings (not only BWA) was Europe: production levels, any signs of slowing in Germany and the U.K., companies’ contingency plans, and the impact of a weakening Euro. Out of these meetings, we trimmed estimates for BWA to inline levels on potentially rising cyclical pressures, even as the secular theme remains attractive.”
Shares of BorgWarner traded down 5.55% during mid-day trading on Friday, hitting $67.77. BorgWarner has a 52 week low of $54.59 and a 52 week high of $87.45. The company has a market cap of $7.767 billion and a P/E ratio of 15.17.
BorgWarner last announced its earnings results on Thursday, April 26th. The company reported $1.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.29 by $0.01. The company’s revenue for the quarter was up 10.6% on a year-over-year basis. On average, analysts predict that BorgWarner will post $1.36 earnings per share next quarter.
Other equities research analysts have also recently issued reports about the stock. Analysts at UBS AG (NYSE: UBS) raised their price target on shares of BorgWarner from $80.00 to $83.00 in a research note to investors on Sunday, April 29th. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of BorgWarner in a research note to investors on Thursday, March 29th. They now have a $88.00 price target on the stock. Finally, analysts at Morgan Stanley (NYSE: MS) raised their price target on shares of BorgWarner to $100.00 in a research note to investors on Tuesday, March 27th. They now have an “overweight” rating on the stock.
BorgWarner Inc. is a global supplier of engineered automotive systems and components primarily for powertrain applications.