Visteon (NASDAQ:VC) Announces Quarterly Earnings Results

by · The Markets Daily

Visteon (NASDAQ:VC – Get Free Report) posted its earnings results on Thursday. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.37, Briefing.com reports. The firm had revenue of $980.00 million during the quarter, compared to analysts’ expectations of $965.60 million. Visteon had a net margin of 13.79% and a return on equity of 51.69%. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 earnings per share. Visteon updated its FY 2024 guidance to EPS.

Visteon Trading Up 0.4 %

NASDAQ VC opened at $92.88 on Friday. The stock has a market capitalization of $2.56 billion, a P/E ratio of 5.31, a P/E/G ratio of 0.43 and a beta of 1.45. The business has a 50 day simple moving average of $94.49 and a 200 day simple moving average of $103.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.85 and a quick ratio of 1.50. Visteon has a one year low of $86.77 and a one year high of $136.40.

Insider Buying and Selling at Visteon

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $111.73, for a total transaction of $431,166.07. Following the transaction, the senior vice president now directly owns 5,988 shares of the company’s stock, valued at $669,039.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $115.00 to $122.00 in a report on Friday, September 20th. Royal Bank of Canada dropped their target price on Visteon from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Friday. Morgan Stanley reduced their price target on Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. TD Cowen dropped their price objective on shares of Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a report on Friday, July 26th. Finally, Baird R W lowered shares of Visteon from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.57.

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About Visteon

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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.

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