Meritor Inc (NYSE:MTOR) – Stock analysts at KeyCorp boosted their FY2019 earnings per share (EPS) estimates for shares of Meritor in a research report issued on Thursday, August 1st. KeyCorp analyst J. Picariello now forecasts that the auto parts company will post earnings of $3.70 per share for the year, up from their previous forecast of $3.55. KeyCorp also issued estimates for Meritor’s Q4 2019 earnings at $0.68 EPS.
Meritor (NYSE:MTOR) last announced its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $1.20 EPS for the quarter, topping the consensus estimate of $0.95 by $0.25. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.18 billion. Meritor had a net margin of 6.31% and a return on equity of 83.77%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS.
Several other brokerages also recently commented on MTOR. Stifel Nicolaus set a $29.00 price objective on shares of Meritor and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research raised shares of Meritor from a “hold” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Thursday, August 1st. Finally, Longbow Research downgraded shares of Meritor from a “buy” rating to a “neutral” rating and set a $23.42 price objective for the company. in a research report on Monday, May 6th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Meritor currently has a consensus rating of “Hold” and a consensus price target of $25.63.
Shares of MTOR stock opened at $20.27 on Monday. The firm has a market cap of $1.77 billion, a P/E ratio of 6.69 and a beta of 2.22. Meritor has a 52 week low of $15.01 and a 52 week high of $25.78. The company has a current ratio of 1.25, a quick ratio of 0.76 and a debt-to-equity ratio of 1.44. The stock’s 50 day moving average is $23.27.
In other news, Director Rodger L. Boehm bought 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average cost of $21.00 per share, for a total transaction of $42,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.80% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Meritor by 16.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,739 shares of the auto parts company’s stock worth $115,000 after purchasing an additional 686 shares in the last quarter. ICM Asset Management Inc. WA lifted its holdings in shares of Meritor by 0.3% in the 2nd quarter. ICM Asset Management Inc. WA now owns 222,730 shares of the auto parts company’s stock worth $5,401,000 after purchasing an additional 730 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Meritor by 124.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 1,433 shares of the auto parts company’s stock valued at $35,000 after acquiring an additional 794 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in Meritor by 2.4% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 44,724 shares of the auto parts company’s stock valued at $1,085,000 after acquiring an additional 1,067 shares in the last quarter. Finally, Quantamental Technologies LLC lifted its stake in Meritor by 84.1% during the 1st quarter. Quantamental Technologies LLC now owns 2,629 shares of the auto parts company’s stock valued at $54,000 after acquiring an additional 1,201 shares in the last quarter. Institutional investors own 95.51% of the company’s stock.
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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