2011《财富》美国500强10大烂股

第5名：零部件制造商Meritor

    交易代码: MTOR

    年初至今股票表现: -74%

    市值: 5.03亿美元

    财富500强排名: 463

    去年Meritor曾跻身《财富》美国500强十大牛股榜单。时过境迁，今年投资者们已不再看好这家商用卡车零部件生产商。

    今年这支股票下跌71%，抹去了去年全年的涨幅还要多。

    11月份，Meritor称，由于“所有地区的卡车需求上升”，2011财年销售额增长31%。但公司对2012财年的销售额增幅预测显著低于分析人士的预期。

    欧洲和巴西的卡车销量下降以及中国建筑设备需求疲软令投资者忧心忡忡。同时，他们也不满意Meritor糟糕的现金流以及暗淡的利润率。

    综合这些因素，“我们相信（Meritor）还要有几个季度，才能重新赢得投资者对其盈利能力的信心，”巴克莱资本的分析师们在最近的一份报告中写道。

Meritor

    Ticker: MTOR

    YTD stock performance: -74%

    Market cap: $503 million

    Fortune 500 rank: 463

    Meritor made the list of top-performing stocks last year, but investors have turned bearish on the maker of commercial truck parts.

    The stock is down 71% this year, erasing all of last year's gains, and then some.

    Meritor said in November that fiscal 2011 sales rose 31% on "strengthening truck demand in all regions." But the company's forecast for fiscal 2012 sales growth was well below what analysts were expecting.

    Investors are worried about declining truck volumes in Europe and Brazil, as well as softening demand for construction equipment in China. They are also unhappy with Meritor's weak cash flow and lackluster profit margins.

    This combination of factors "leads us to believe that it will take [Meritor] several quarters to re-establish confidence in its earnings power," analysts at Barclay's Capital wrote in a recent report.