Visteon (NASDAQ:VC) Announces Quarterly Earnings Results, Beats Estimates By $0.37 EPS

Visteon (NASDAQ:VC) announced its quarterly earnings data on Thursday. The company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.37, Briefing.com reports. The business had revenue of $980.00 million during the quarter, compared to analyst estimates of $965.60 million. Visteon had a return on equity of 51.69% and a net margin of 13.79%. Visteon’s revenue was down 3.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 earnings per share. Visteon updated its FY 2024 guidance to EPS.

Visteon Stock Up 5.5 %

VC stock opened at $92.47 on Friday. Visteon has a 1-year low of $86.77 and a 1-year high of $136.40. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 0.43 and a beta of 1.45. The company has a current ratio of 1.85, a quick ratio of 1.50 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average is $94.58 and its 200 day moving average is $103.89.

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 stock was sold at an average price of $111.73, for a total value of $431,166.07. Following the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on VC. TD Cowen cut their price target on Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, July 26th. Citigroup reduced their target price on shares of Visteon from $139.00 to $126.00 and set a “buy” rating for the company in a research note on Friday, July 12th. Wolfe Research initiated coverage on shares of Visteon in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. Royal Bank of Canada reduced their price objective on shares of Visteon from $144.00 to $129.00 and set an “outperform” rating for the company in a research note on Thursday, August 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $124.00 target price on shares of Visteon in a research report on Tuesday, September 10th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Visteon currently has a consensus rating of “Moderate Buy” and an average price target of $127.93.

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.