BorgWarner (BWA) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $0.80 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.78. The company posted revenue of $2268.60 million in the period, compared to analysts expectations of $2233.73 million. The company’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
Many Wall Street Analysts have commented on BorgWarner. Company shares were Reiterated by RBC Capital Mkts on Apr 1, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 39 from a previous price target of $33 .BorgWarner was Downgraded by Citigroup to ” Neutral” on Mar 29, 2016. BorgWarner was Downgraded by Sterne Agee CRT to ” Neutral” on Feb 16, 2016.
BorgWarner closed down -1.31 points or -3.28% at $38.62 with 43,93,562 shares getting traded on Wednesday. Post opening the session at $39.65, the shares hit an intraday low of $38.37 and an intraday high of $40.2 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
In a different news, on Mar 17, 2016, Alexis P Michas (director) sold 10,000 shares at $36.69 per share price. According to the SEC, on Mar 16, 2016, Ronald T Hundzinski (Vice President and CFO) sold 20,344 shares at $35.68 per share price. On Mar 14, 2016, Steven G. Carlson (Vice President and Controller) sold 24,000 shares at $35.78 per share price, according to the Form-4 filing with the securities and exchange commission.
BorgWarner Inc. is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’ develops and manufactures products in gasoline and diesel engines and alternative powertrains. The Drivetrain segment develops and manufactures products for automatic transmissions and all-wheel drive (AWD) vehicles. The Company manufactures and sells the product across the world to equipment manufacturers (OEMs) of light vehicles. The Company sells the products to other OEMs of commercial vehicles and off-highway vehicles (agricultural and construction machinery and marine applications). It also manufactures and sells its products to Tier One vehicle systems suppliers and into the aftermarket for light commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in the Americas Europe and Asia and is an equipment supplier to automotive OEM.