Meritor Inc (MTOR) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.57 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.14. Analysts had a consensus of $0.43. The company posted revenue of $841.00 million in the period, compared to analysts expectations of $836.49 million. The company’s revenue was down -7.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.
Many Wall Street Analysts have commented on Meritor Inc. Meritor Inc was Downgraded by Piper Jaffray to ” Underweight” on Jun 28, 2016.
Meritor Inc closed down -0.29 points or -3.53% at $7.93 with 10,84,390 shares getting traded on Tusday. Post opening the session at $8.21, the shares hit an intraday low of $7.88 and an intraday high of $8.23 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
In a different news, on May 20, 2016, William J Lyons (director) purchased 2,799 shares at $8.01 per share price. According to the SEC, on Dec 3, 2015, Jeffrey A Craig (CEO & President) sold 19,496 shares at $10.34 per share price. On Dec 3, 2015, Paul Bialy (VP, Controller & PAO) sold 2,655 shares at $10.32 per share price, according to the Form-4 filing with the securities and exchange commission.
Meritor Inc. is engaged in the development manufacture sale assembly distribution import and export of movement control systems for buses trailers and trucks and their parts and components. It serves commercial truck trailer bus and coach and off-highway machinery manufacturers. The Company’s segments include commercial truck and industrial and aftermarket and trailer. Its commercial truck and industrial segment supplies drivetrain systems and components including axles drivelines braking and suspension systems primarily for medium- and heavy-duty trucks in North America South America and Europe. This segment also supplies components for defense construction bus and coach mining fire and emergency applications and Aftermarket and Trailer segment which supplies new and remanufactured axles brakes suspensions transmissions and components for all-makes aftermarket customers and also supplies a variety of undercarriage products and systems for trailer applications.