Visteon (NASDAQ:VC) Announces Earnings Results

Visteon (NASDAQ:VC) posted its quarterly earnings data on Thursday. The company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.37, Briefing.com reports. Visteon had a return on equity of 51.69% and a net margin of 13.79%. The firm had revenue of $980.00 million during the quarter, compared to analyst estimates of $965.60 million. During the same period last year, the company posted $2.35 EPS. The business’s quarterly revenue was down 3.4% on a year-over-year basis. Visteon updated its FY 2024 guidance to EPS.

Visteon Trading Up 5.5 %

Shares of Visteon stock opened at $92.47 on Friday. The company has a market capitalization of $2.55 billion, a P/E ratio of 4.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.45. The stock has a fifty day simple moving average of $94.58 and a 200 day simple moving average of $103.89. Visteon has a 12-month low of $86.77 and a 12-month high of $136.40. The company has a current ratio of 1.85, a quick ratio of 1.50 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $111.73, for a total value of $431,166.07. Following the completion of the sale, the senior vice president now directly owns 5,988 shares of the company’s stock, valued at approximately $669,039.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on VC shares. Royal Bank of Canada dropped their price target on Visteon from $144.00 to $129.00 and set an “outperform” rating on the stock in a research note on Thursday, August 22nd. UBS Group dropped their target price on shares of Visteon from $144.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Wolfe Research started coverage on shares of Visteon in a report on Thursday, September 5th. They issued a “peer perform” rating for the company. Wells Fargo & Company upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $115.00 to $122.00 in a report on Friday, September 20th. Finally, Robert W. Baird restated a “neutral” rating and issued a $120.00 target price (down from $137.00) on shares of Visteon in a research note on Friday, July 12th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $127.93.

Visteon Company Profile

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.