Meritor, Inc. (NYSE:MTOR) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.25-1.40 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.33. The company issued revenue guidance of $3.0-3.1 billion, compared to the consensus revenue estimate of $3.03 billion.
MTOR has been the subject of several research reports. Stifel Nicolaus raised shares of Meritor from a hold rating to a buy rating and increased their price objective for the stock from $14.00 to $17.00 in a research report on Thursday, January 26th. Zacks Investment Research raised shares of Meritor from a hold rating to a strong-buy rating and set a $17.00 target price for the company in a research report on Friday, January 27th. Finally, Barclays PLC set a $10.00 target price on shares of Meritor and gave the company a hold rating in a research report on Tuesday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $11.86.
Shares of Meritor, Inc. (NYSE:MTOR) opened at 14.43 on Wednesday. Meritor, Inc. has a 1-year low of $5.69 and a 1-year high of $15.45. The stock’s 50 day moving average is $13.38 and its 200-day moving average is $11.42. The firm has a market cap of $1.25 billion, a PE ratio of 2.32 and a beta of 2.34.
Meritor (NYSE:MTOR) last posted its quarterly earnings results on Wednesday, November 16th. The company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.06. The company earned $728 million during the quarter, compared to analyst estimates of $747.98 million. Meritor had a net margin of 17.22% and a negative return on equity of 29.67%. The firm’s revenue for the quarter was down 14.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.39 earnings per share. Analysts expect that Meritor, Inc. will post $1.30 earnings per share for the current year.
In related news, VP Paul Bialy sold 2,740 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $12.44, for a total value of $34,085.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Timothy J. Heffron sold 14,005 shares of the firm’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $12.45, for a total transaction of $174,362.25. The disclosure for this sale can be found here. Insiders have sold 395,516 shares of company stock valued at $4,923,925 in the last quarter. Company insiders own 2.87% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. bought a new position in Meritor during the third quarter valued at about $1,569,000. Credit Suisse AG raised its position in Meritor by 65.3% in the third quarter. Credit Suisse AG now owns 180,345 shares of the company’s stock valued at $2,007,000 after buying an additional 71,223 shares in the last quarter. Penn Capital Management Co. Inc. acquired a new position in shares of Meritor during the third quarter worth $398,000. Panagora Asset Management Inc. raised its position in shares of Meritor by 1,284.2% in the third quarter. Panagora Asset Management Inc. now owns 420,893 shares of the company’s stock worth $4,685,000 after buying an additional 390,487 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in shares of Meritor during the third quarter worth $415,000. 90.44% of the stock is owned by institutional investors and hedge funds.
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.