Aptiv (NYSE:APTV) Updates FY 2024 Earnings Guidance

Aptiv (NYSE:APTV) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 6.000-6.300 for the period, compared to the consensus estimate of 6.210. The company issued revenue guidance of $19.6 billion-$19.9 billion, compared to the consensus revenue estimate of $20.2 billion. Aptiv also updated its FY24 guidance to $6.00-6.30 EPS.

Aptiv Stock Performance

NYSE APTV traded down $0.46 during trading hours on Friday, reaching $56.37. 6,184,402 shares of the company were exchanged, compared to its average volume of 3,042,018. The company has a quick ratio of 1.09, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $14.98 billion, a P/E ratio of 4.26, a P/E/G ratio of 0.63 and a beta of 1.79. The business’s 50 day simple moving average is $69.58 and its 200-day simple moving average is $72.41. Aptiv has a 1 year low of $54.70 and a 1 year high of $91.66.

Aptiv (NYSE:APTV) last announced its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.14. The company had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.30 earnings per share. On average, equities research analysts expect that Aptiv will post 6.23 earnings per share for the current year.

Analysts Set New Price Targets

APTV has been the topic of a number of analyst reports. UBS Group dropped their price objective on Aptiv from $107.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. TD Cowen cut their price target on shares of Aptiv from $95.00 to $74.00 and set a “buy” rating on the stock in a report on Friday. JPMorgan Chase & Co. increased their target price on shares of Aptiv from $107.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wolfe Research initiated coverage on Aptiv in a report on Thursday, September 5th. They set an “outperform” rating and a $89.00 price target on the stock. Finally, Bank of America dropped their price objective on Aptiv from $105.00 to $102.00 and set a “buy” rating for the company in a report on Monday, October 14th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Aptiv currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.18.

Aptiv Company Profile

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.