Meritor (NYSE:MTOR) Updates FY21 Earnings Guidance

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Meritor (NYSE:MTOR) issued an update on its FY21 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $2.15 to $2.30 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.30. The company issued revenue guidance of $3.65 billion to $3.8 billion, compared to the consensus revenue estimate of $3.73 billion.Meritor also updated its FY 2021 guidance to 2.150-2.300 EPS.

NYSE MTOR traded down $1.08 during trading on Tuesday, reaching $26.01. The company’s stock had a trading volume of 1,496,073 shares, compared to its average volume of 540,994. The company has a debt-to-equity ratio of 2.40, a quick ratio of 1.17 and a current ratio of 1.77. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 8.15 and a beta of 2.19. Meritor has a twelve month low of $15.72 and a twelve month high of $33.56. The business’s fifty day moving average price is $29.03 and its 200-day moving average price is $28.34.

Meritor (NYSE:MTOR) last posted its quarterly earnings data on Wednesday, February 3rd. The auto parts company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.21. Meritor had a net margin of 8.02% and a return on equity of 19.93%. The company had revenue of $889.00 million for the quarter, compared to analyst estimates of $870.00 million. During the same period in the previous year, the business posted $0.64 earnings per share. Meritor’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that Meritor will post 1.77 EPS for the current fiscal year.

Separately, Zacks Investment Research lowered shares of Meritor from a buy rating to a hold rating and set a $31.00 price target on the stock. in a research note on Tuesday, April 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Meritor currently has an average rating of Hold and a consensus target price of $27.40.

In other news, CEO Jeffrey A. Craig sold 199,570 shares of the business’s stock in a transaction that occurred on Thursday, February 18th. The shares were sold at an average price of $31.84, for a total value of $6,354,308.80. Following the completion of the transaction, the chief executive officer now owns 38,540 shares of the company’s stock, valued at $1,227,113.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ivor J. Evans sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 16th. The shares were sold at an average price of $32.24, for a total transaction of $3,224,000.00. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

About Meritor

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 and Industrial.

Further Reading: Correction

Earnings History and Estimates for Meritor (NYSE:MTOR)

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