BorgWarner (BWA) was Initiated by Seaport Global Securities to “Neutral”. Seaport Global Securities advised their investors in a research report released on Aug 9, 2016.
Many Wall Street Analysts have commented on BorgWarner. BorgWarner was Downgraded by BofA/Merrill to ” Neutral” on Jun 21, 2016.
On the company’s financial health, BorgWarner reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.82. The company had revenue of $2329.20 million for the quarter, compared to analysts expectations of $2322.97 million. The company’s revenue was up 14.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.
BorgWarner opened for trading at $33.38 and hit $33.91 on the upside on Monday, eventually ending the session at $33.43, with a gain of 0.51% or 0.17 points. The heightened volatility saw the trading volume jump to 12,59,686 shares. Company has a market cap of $7,163 M.
Investors should note that on Jul 26, 2016, BorgWarner announced a cash dividend of $0.1300. The company’s management has announced Aug 30, 2016 as the ex-dividend date and fixed the record date on Sep 1, 2016. The payable date has been fixed on Sep 15, 2016.
In a different news, on Aug 4, 2016, Thomas J. Mcgill (Vice President and Treasurer) sold 5,000 shares at $31.83 per share price. According to the SEC, on May 31, 2016, Dennis C Cuneo (director) sold 2,500 shares at $33.53 per share price. On May 4, 2016, Ronald T Hundzinski (Vice President and CFO) sold 3,721 shares at $35.06 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.