Schaeffler AG (OTCMKTS:SCFLF – Get Rating) – Jefferies Financial Group lowered their FY2022 EPS estimates for Schaeffler in a research note issued on Tuesday, May 31st. Jefferies Financial Group analyst S. Gommel now forecasts that the company will post earnings per share of $0.96 for the year, down from their previous estimate of $1.08. Jefferies Financial Group also issued estimates for Schaeffler’s FY2023 earnings at $1.27 EPS.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Schaeffler from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 17th. Morgan Stanley dropped their price objective on shares of Schaeffler from €6.40 ($6.88) to €5.50 ($5.91) in a research report on Wednesday, May 11th. JPMorgan Chase & Co. dropped their price objective on shares of Schaeffler from €8.00 ($8.60) to €7.50 ($8.06) and set an “overweight” rating for the company in a research report on Monday, May 16th. Credit Suisse Group dropped their target price on shares of Schaeffler from €7.50 ($8.06) to €6.00 ($6.45) in a research report on Monday, March 14th. Finally, Citigroup cut shares of Schaeffler from a “neutral” rating to a “sell” rating in a research report on Tuesday, March 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Schaeffler currently has an average rating of “Hold” and a consensus price target of $6.94.
About Schaeffler (Get Rating)
Schaeffler AG, together with its subsidiaries, manufactures and sells precision components and systems for automotive and industrial applications in Europe, the Americas, China, and the Asia Pacific. The company's Automotive OEM division offers engine systems, including rolling bearing solutions, belt and chain drive products, valve train components, and systems for variable valve trains; and transmission systems, such as torsion and vibration dampers, clutches and double clutch systems, torque converters, CVT components, lightweight differentials, bearing solutions, and synchronizing and gearshift components.
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