KeyCorp Research Analysts Decrease Earnings Estimates for WABCO Holdings Inc. (WBC)
WABCO Holdings Inc. (NYSE:WBC) – Stock analysts at KeyCorp dropped their FY2019 earnings estimates for shares of WABCO in a note issued to investors on Wednesday, December 5th. KeyCorp analyst J. Hammond now anticipates that the auto parts company will post earnings of $8.25 per share for the year, down from their prior forecast of $8.40.
Several other research firms have also recently issued reports on WBC. Stifel Nicolaus lowered their price objective on WABCO from $159.00 to $152.00 and set a “buy” rating on the stock in a report on Monday, September 24th. Citigroup lowered their price objective on WABCO from $140.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, October 19th. Morgan Stanley set a $135.00 price objective on WABCO and gave the stock a “buy” rating in a report on Thursday, September 13th. ValuEngine upgraded WABCO from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Bank of America cut WABCO from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $130.00 to $95.00 in a report on Wednesday, October 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $132.82.
WABCO (NYSE:WBC) last posted its earnings results on Thursday, October 18th. The auto parts company reported $1.78 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.19. WABCO had a return on equity of 33.10% and a net margin of 11.62%. The firm had revenue of $914.80 million for the quarter, compared to analysts’ expectations of $932.66 million. During the same period last year, the firm earned $1.71 EPS. The company’s quarterly revenue was up 10.5% on a year-over-year basis.
Institutional investors have recently modified their holdings of the company. Gideon Capital Advisors Inc. boosted its holdings in shares of WABCO by 67.9% during the 2nd quarter. Gideon Capital Advisors Inc. now owns 4,321 shares of the auto parts company’s stock worth $506,000 after purchasing an additional 1,748 shares during the last quarter. Swiss National Bank boosted its holdings in shares of WABCO by 9.0% during the 2nd quarter. Swiss National Bank now owns 177,600 shares of the auto parts company’s stock worth $20,783,000 after purchasing an additional 14,700 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of WABCO by 126.7% during the 2nd quarter. Renaissance Technologies LLC now owns 366,500 shares of the auto parts company’s stock worth $42,888,000 after purchasing an additional 204,800 shares during the last quarter. BB&T Corp boosted its holdings in shares of WABCO by 32.6% during the 3rd quarter. BB&T Corp now owns 6,619 shares of the auto parts company’s stock worth $780,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Wafra Inc. acquired a new position in shares of WABCO during the 2nd quarter worth approximately $6,990,000. Institutional investors and hedge funds own 97.63% of the company’s stock.
WABCO Company Profile
WABCO Holdings Inc, together with its subsidiaries, supplies electronic, mechanical, electro-mechanical, and aerodynamic products worldwide. The company engineers, develops, manufactures, and sells braking, stability, suspension, transmission automation, and air management systems primarily for commercial vehicles.
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