Aptiv (NYSE:APTV) Updates FY24 Earnings Guidance

Aptiv (NYSE:APTV) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $6.00-6.30 for the period, compared to the consensus EPS estimate of $6.23. The company issued revenue guidance of $19.6-19.9 billion, compared to the consensus revenue estimate of $20.14 billion. Aptiv also updated its FY 2024 guidance to 6.000-6.300 EPS.

Aptiv Trading Down 0.8 %

Shares of APTV traded down $0.46 during mid-day trading on Friday, reaching $56.37. 6,184,402 shares of the company were exchanged, compared to its average volume of 3,042,018. The business has a 50 day simple moving average of $69.58 and a two-hundred day simple moving average of $72.41. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.49. The stock has a market capitalization of $14.98 billion, a PE ratio of 4.26, a PEG ratio of 0.63 and a beta of 1.79. Aptiv has a 52 week low of $54.70 and a 52 week high of $91.66.

Aptiv (NYSE:APTV) last posted its quarterly earnings data on Thursday, October 31st. The auto parts company reported $1.83 earnings per share for the quarter, topping 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 net margin of 18.46% and a return on equity of 13.19%. Aptiv’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.30 earnings per share. On average, analysts predict that Aptiv will post 6.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on APTV shares. Wells Fargo & Company upgraded shares of Aptiv from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $78.00 to $87.00 in a research report on Friday, September 20th. Bank of America dropped their price objective on shares of Aptiv from $105.00 to $102.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Citigroup reduced their target price on Aptiv from $128.00 to $108.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Deutsche Bank Aktiengesellschaft decreased their target price on Aptiv from $76.00 to $66.00 and set a “hold” rating for the company in a research report on Friday. Finally, Fox Advisors lowered Aptiv from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $88.18.

About Aptiv

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.