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

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

Visteon Stock Performance

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

Wall Street Analysts Forecast Growth

VC has been the subject of several recent research reports. Robert W. Baird reiterated a “neutral” rating and issued a $120.00 price objective (down previously from $137.00) on shares of Visteon in a research note on Friday, July 12th. JPMorgan Chase & Co. decreased their price objective on Visteon from $144.00 to $135.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. TD Cowen decreased their target price on Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a research note on Friday. Citigroup decreased their target price on Visteon from $139.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Finally, Barclays upgraded Visteon from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $134.31.

About Visteon

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.