BorgWarner(NYSE:BWA) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $2.33B. Analysts estimated a revenue of $2.33B. Earnings per share were $0.84. Analysts had estimated an EPS of $0.82.
In a different note, On Jun 21, 2016, Bank of America said it Downgrades its rating on BorgWarner. The shares have been rated ‘Neutral’ by the firm.
BorgWarner (BWA) shares turned negative on Thursdays trading session with the shares closing down -0.13 points or -0.40% at a volume of 15,62,124. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $33. The peak price level was also seen at $33 while the days lowest was $32.51. Finally the shares closed at $32.58. The 52-week high of the shares is $49.43 while the 52-week low is $27.52. According to the latest information available, the market cap of the company is $6,981 M.
BorgWarner has also declared a cash dividend of $0.1300 on Jul 26, 2016. The shares will quote ex-dividend on Aug 30, 2016 and the record date has been fixed on Sep 1, 2016. The dividend payable date has been fixed on Sep 15, 2016.
Several Insider Transactions has been reported to the SEC. On May 31, 2016, Dennis C Cuneo (director) sold 2,500 shares at $33.53 per share price.Also, On May 4, 2016, Ronald T Hundzinski (Vice President and CFO) sold 3,721 shares at $35.06 per share price.On Mar 17, 2016, Alexis P Michas (director) sold 10,000 shares at $36.69 per share price, according to the Form-4 filing with the securities and exchange commission.
BorgWarner Inc. is a supplier of engineered automotive systems and components for powertrain applications. The Company operates through two segments: Engine and Drivetrain. The Engine segment’ develops and manufactures products in gasoline and diesel engines and alternative powertrains. The Drivetrain segment develops and manufactures products for automatic transmissions and all-wheel drive (AWD) vehicles. The Company manufactures and sells the product across the world to equipment manufacturers (OEMs) of light vehicles. The Company sells the products to other OEMs of commercial vehicles and off-highway vehicles (agricultural and construction machinery and marine applications). It also manufactures and sells its products to Tier One vehicle systems suppliers and into the aftermarket for light commercial and off-highway vehicles. The Company operates manufacturing facilities serving customers in the Americas Europe and Asia and is an equipment supplier to automotive OEM.