Visteon (NASDAQ:VC) Posts Earnings Results, Beats Expectations By $0.58 EPS

Visteon (NASDAQ:VC) announced its quarterly earnings results on Thursday. The company reported $2.54 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.58, Briefing.com reports. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Visteon had a net margin of 13.79% and a return on equity of 51.69%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 earnings per share. Visteon updated its FY 2024 guidance to EPS.

Visteon Price Performance

VC traded down $1.58 during trading hours on Friday, hitting $111.53. The company’s stock had a trading volume of 386,287 shares, compared to its average volume of 281,728. The business’s 50-day moving average price is $108.22 and its 200-day moving average price is $112.68. Visteon has a 12 month low of $101.42 and a 12 month high of $159.06. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 0.53 and a beta of 1.46. The company has a current ratio of 1.85, a quick ratio of 1.37 and a debt-to-equity ratio of 0.26.

Analyst Ratings Changes

Several analysts recently issued reports on VC shares. Guggenheim cut their target price on shares of Visteon from $136.00 to $126.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. Robert W. Baird reaffirmed a “neutral” rating and set a $120.00 price target (down previously from $137.00) on shares of Visteon in a report on Friday, July 12th. UBS Group lowered their price target on shares of Visteon from $144.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Citigroup lowered their price target on shares of Visteon from $139.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Finally, TD Cowen lowered their price target on shares of Visteon from $142.00 to $140.00 and set a “buy” rating on the stock in a report on Friday. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $134.31.

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.