Garrett Motion Inc (NYSE:GTX) – Stock analysts at Jefferies Financial Group dropped their Q3 2019 earnings estimates for shares of Garrett Motion in a research note issued on Thursday, October 17th. Jefferies Financial Group analyst D. Kelley now anticipates that the company will earn $0.80 per share for the quarter, down from their prior forecast of $0.81. Jefferies Financial Group also issued estimates for Garrett Motion’s Q4 2019 earnings at $0.94 EPS, FY2019 earnings at $3.56 EPS, Q1 2020 earnings at $0.80 EPS, Q2 2020 earnings at $0.74 EPS, Q3 2020 earnings at $0.66 EPS, Q4 2020 earnings at $0.78 EPS and FY2020 earnings at $2.97 EPS.
A number of other equities research analysts have also weighed in on GTX. Morgan Stanley assumed coverage on shares of Garrett Motion in a research note on Tuesday, September 10th. They set an “underweight” rating and a $8.00 target price for the company. UBS Group decreased their target price on shares of Garrett Motion from $12.00 to $9.00 and set a “sell” rating for the company in a research note on Thursday, September 12th. ValuEngine upgraded shares of Garrett Motion from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays decreased their target price on shares of Garrett Motion from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 2nd. Finally, Bank of America upgraded shares of Garrett Motion from an “underperform” rating to a “neutral” rating and set a $22.00 target price for the company in a research note on Friday, September 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $13.29.
Shares of GTX opened at $9.73 on Monday. The firm has a market cap of $701.44 million and a PE ratio of 2.40. The firm has a fifty day simple moving average of $10.12 and a two-hundred day simple moving average of $14.02. Garrett Motion has a 1-year low of $8.64 and a 1-year high of $19.71.
Garrett Motion (NYSE:GTX) last announced its earnings results on Tuesday, July 30th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.04. The business had revenue of $802.00 million during the quarter, compared to analyst estimates of $831.99 million. Garrett Motion had a net margin of 34.50% and a negative return on equity of 44.81%. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.03 EPS.
Several hedge funds have recently modified their holdings of the company. Dynamo Internacional Gestao DE Recursos LTDA. bought a new stake in shares of Garrett Motion during the 2nd quarter valued at $38,091,000. Renaissance Technologies LLC bought a new stake in shares of Garrett Motion during the 2nd quarter valued at $8,878,000. Gamco Investors INC. ET AL grew its position in shares of Garrett Motion by 1.7% during the 2nd quarter. Gamco Investors INC. ET AL now owns 564,681 shares of the company’s stock valued at $8,668,000 after acquiring an additional 9,463 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Garrett Motion by 7.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 500,325 shares of the company’s stock valued at $7,680,000 after acquiring an additional 33,378 shares during the period. Finally, University of Notre Dame DU Lac bought a new stake in shares of Garrett Motion during the 2nd quarter valued at $7,267,000. 84.06% of the stock is owned by hedge funds and other institutional investors.
Garrett Motion Company Profile
Garrett Motion Inc designs, manufactures, and sells turbocharger and electric boosting technologies for light and commercial vehicle original equipment manufacturers and the aftermarket worldwide. The company offers light vehicle gasoline and diesel, and commercial vehicle turbochargers. Its integrated vehicle health management tools detect intermittent faults and anomalies to provide understanding of the real-time health of a vehicle system.
Further Reading: Percentage Decliners
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