VIZIO (NYSE:VZIO) Posts Earnings Results, Misses Estimates By $0.07 EPS

VIZIO (NYSE:VZIO) issued its earnings results on Wednesday. The company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07), Briefing.com reports. VIZIO had a net margin of 1.68% and a return on equity of 6.84%. The business had revenue of $353.90 million during the quarter, compared to analysts’ expectations of $373.95 million. VIZIO’s revenue was down .8% on a year-over-year basis.

VIZIO Stock Performance

VIZIO stock traded up $0.12 during midday trading on Friday, hitting $10.43. 804,402 shares of the company’s stock were exchanged, compared to its average volume of 2,681,000. The company has a market cap of $2.06 billion, a P/E ratio of 68.77, a PEG ratio of 2.11 and a beta of 2.08. The stock has a 50-day moving average price of $10.85 and a two-hundred day moving average price of $8.59. VIZIO has a 52-week low of $4.82 and a 52-week high of $11.28.

Insider Buying and Selling

In related news, Director David Eugene Russell sold 300,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.91, for a total value of $2,973,000.00. Following the sale, the director now directly owns 2,536,542 shares of the company’s stock, valued at $25,137,131.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 45.06% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on VZIO. Barrington Research lowered shares of VIZIO from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 20th. B. Riley downgraded shares of VIZIO from a “buy” rating to a “neutral” rating and set a $11.50 target price for the company. in a research report on Tuesday, February 20th. JPMorgan Chase & Co. restated a “neutral” rating and set a $11.50 price target (up previously from $10.00) on shares of VIZIO in a research note on Wednesday, February 21st. Piper Sandler reiterated a “neutral” rating and issued a $11.50 target price (down from $12.00) on shares of VIZIO in a research note on Wednesday, February 28th. Finally, TheStreet raised shares of VIZIO from a “d+” rating to a “c-” rating in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. Based on data from MarketBeat, VIZIO has an average rating of “Hold” and a consensus price target of $10.77.

About VIZIO

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.