$946.07 Million in Sales Expected for Meritor, Inc. (MTOR) This Quarter

Equities research analysts expect Meritor, Inc. (NYSE:MTOR) to post $946.07 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Meritor’s earnings. The highest sales estimate is $960.93 million and the lowest is $931.20 million. Meritor posted sales of $806.00 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 17.4%. The company is expected to report its next quarterly earnings results on Wednesday, May 2nd.

According to Zacks, analysts expect that Meritor will report full-year sales of $946.07 million for the current financial year. For the next financial year, analysts anticipate that the company will post sales of $4.07 billion per share, with estimates ranging from $4.00 billion to $4.15 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Meritor.

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Meritor (NYSE:MTOR) last issued its quarterly earnings data on Wednesday, January 31st. The auto parts company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.16. The firm had revenue of $903.00 million for the quarter, compared to analyst estimates of $836.28 million. Meritor had a return on equity of 208.74% and a net margin of 7.69%. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS.

MTOR has been the topic of several research reports. ValuEngine upgraded Meritor from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. Longbow Research upgraded Meritor from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 24th. Barclays lifted their price target on Meritor from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Zacks Investment Research upgraded Meritor from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a research report on Wednesday, January 31st. Finally, Piper Jaffray restated a “buy” rating and set a $35.00 price target on shares of Meritor in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Meritor currently has an average rating of “Buy” and a consensus target price of $28.95.

In other Meritor news, CEO Jeffrey A. Craig sold 50,000 shares of Meritor stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $29.12, for a total transaction of $1,456,000.00. Following the completion of the transaction, the chief executive officer now owns 427,310 shares in the company, valued at $12,443,267.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Joseph A. Plomin sold 15,826 shares of Meritor stock in a transaction on Monday, February 26th. The shares were sold at an average price of $25.64, for a total value of $405,778.64. The disclosure for this sale can be found here. Insiders have sold 238,826 shares of company stock valued at $6,439,309 in the last quarter. 2.32% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in MTOR. Prudential Financial Inc. raised its stake in Meritor by 86.0% during the third quarter. Prudential Financial Inc. now owns 50,643 shares of the auto parts company’s stock valued at $1,317,000 after buying an additional 23,411 shares during the last quarter. New York State Common Retirement Fund raised its stake in Meritor by 25.3% during the third quarter. New York State Common Retirement Fund now owns 184,463 shares of the auto parts company’s stock valued at $4,798,000 after buying an additional 37,261 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Meritor during the third quarter valued at $629,000. American International Group Inc. raised its stake in Meritor by 8.1% during the third quarter. American International Group Inc. now owns 56,176 shares of the auto parts company’s stock valued at $1,461,000 after buying an additional 4,200 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Meritor by 5.5% in the third quarter. Legal & General Group Plc now owns 113,108 shares of the auto parts company’s stock worth $2,945,000 after purchasing an additional 5,891 shares during the last quarter. Institutional investors and hedge funds own 93.48% of the company’s stock.

Shares of NYSE MTOR traded down $1.01 during mid-day trading on Tuesday, hitting $20.22. 664,555 shares of the stock traded hands, compared to its average volume of 1,114,327. The company has a quick ratio of 0.69, a current ratio of 1.17 and a debt-to-equity ratio of 2.86. Meritor has a 52 week low of $14.97 and a 52 week high of $29.54. The firm has a market capitalization of $1,803.32, a PE ratio of 10.76 and a beta of 2.57.

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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 & Industrial; and Aftermarket & Trailer.

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