Visteon (NASDAQ:VC) Releases Quarterly Earnings Results, Misses Expectations By $0.14 EPS

Visteon (NASDAQ:VC) announced its quarterly earnings results on Thursday. The company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($0.14), Briefing.com reports. Visteon had a net margin of 12.60% and a return on equity of 53.49%. The company had revenue of $933.00 million for the quarter, compared to the consensus estimate of $971.45 million. During the same quarter in the prior year, the company earned $1.25 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis. Visteon updated its FY 2024 guidance to EPS.

Visteon Stock Up 2.3 %

Shares of VC opened at $112.19 on Friday. The firm has a market cap of $3.08 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.51 and a beta of 1.65. The stock has a 50 day simple moving average of $113.58 and a two-hundred day simple moving average of $118.35. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.74 and a quick ratio of 1.42. Visteon has a 1 year low of $105.19 and a 1 year high of $159.87.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on VC shares. Royal Bank of Canada decreased their price target on Visteon from $188.00 to $146.00 and set an “outperform” rating on the stock in a research report on Thursday, March 7th. StockNews.com upgraded shares of Visteon from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Wolfe Research restated a “peer perform” rating on shares of Visteon in a research report on Thursday, January 4th. Wells Fargo & Company upgraded shares of Visteon from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $106.00 to $108.00 in a research report on Friday. Finally, Bank of America decreased their price objective on shares of Visteon from $165.00 to $160.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Visteon has a consensus rating of “Moderate Buy” and a consensus price target of $142.36.

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.