Zacks: Brokerages Expect Meritor Inc (NYSE:MTOR) to Announce -$0.17 EPS

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Equities research analysts expect Meritor Inc (NYSE:MTOR) to report earnings of ($0.17) per share for the current quarter, Zacks reports. Zero analysts have made estimates for Meritor’s earnings, with the lowest EPS estimate coming in at ($0.27) and the highest estimate coming in at ($0.06). Meritor posted earnings per share of $0.83 during the same quarter last year, which suggests a negative year-over-year growth rate of 120.5%. The company is scheduled to announce its next earnings results on Wednesday, November 11th.

On average, analysts expect that Meritor will report full year earnings of $0.60 per share for the current year, with EPS estimates ranging from $0.35 to $0.85. For the next year, analysts forecast that the firm will post earnings of $1.50 per share, with EPS estimates ranging from $1.00 to $2.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Meritor.

Meritor (NYSE:MTOR) last announced its earnings results on Wednesday, July 29th. The auto parts company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.01). The business had revenue of $514.00 million for the quarter, compared to analyst estimates of $459.25 million. Meritor had a return on equity of 35.42% and a net margin of 8.63%. The business’s revenue was down 55.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.20 EPS.

A number of research firms have recently weighed in on MTOR. Barclays boosted their price objective on shares of Meritor from $20.00 to $22.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. Longbow Research boosted their price objective on shares of Meritor from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Royal Bank of Canada boosted their price objective on shares of Meritor from $21.00 to $23.00 and gave the company a “sector perform” rating in a research report on Thursday. KeyCorp boosted their target price on shares of Meritor from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday. Finally, TheStreet upgraded shares of Meritor from a “c+” rating to a “b-” rating in a report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $23.44.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. State Street Corp grew its stake in Meritor by 41.5% during the first quarter. State Street Corp now owns 2,322,539 shares of the auto parts company’s stock worth $30,774,000 after buying an additional 680,879 shares during the period. Victory Capital Management Inc. grew its stake in Meritor by 2.7% during the first quarter. Victory Capital Management Inc. now owns 1,845,628 shares of the auto parts company’s stock worth $24,455,000 after buying an additional 47,787 shares during the period. Norges Bank purchased a new stake in Meritor during the fourth quarter worth approximately $30,168,000. Balyasny Asset Management LLC grew its stake in Meritor by 33.4% during the first quarter. Balyasny Asset Management LLC now owns 601,013 shares of the auto parts company’s stock worth $7,963,000 after buying an additional 150,560 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in Meritor during the first quarter worth approximately $7,596,000. Institutional investors own 95.56% of the company’s stock.

NYSE:MTOR opened at $22.75 on Friday. The firm has a 50 day simple moving average of $20.55 and a 200-day simple moving average of $19.97. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.88 and a quick ratio of 1.08. The firm has a market cap of $1.64 billion, a PE ratio of 6.17 and a beta of 2.45. Meritor has a 1-year low of $10.91 and a 1-year high of $27.18.

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, Industrial and Trailer.

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