Visteon (NASDAQ:VC) Issues Quarterly Earnings Results, Beats Expectations By $0.58 EPS

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

Visteon Stock Down 1.4 %

Shares of VC traded down $1.58 during mid-day trading on Friday, reaching $111.53. The company’s stock had a trading volume of 386,287 shares, compared to its average volume of 281,728. The business has a fifty day moving average of $108.22 and a 200 day moving average of $112.68. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 6.37, a price-to-earnings-growth ratio of 0.53 and a beta of 1.46. Visteon has a 1 year low of $101.42 and a 1 year high of $159.06. The company has a quick ratio of 1.37, a current ratio of 1.85 and a debt-to-equity ratio of 0.26.

Analyst Ratings Changes

A number of equities analysts have issued reports on VC shares. The Goldman Sachs Group decreased their price target on Visteon from $161.00 to $133.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price target on Visteon from $144.00 to $135.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Baird R W lowered Visteon from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Robert W. Baird reaffirmed a “neutral” rating and set a $120.00 price target (down from $137.00) on shares of Visteon in a research note on Friday, July 12th. Finally, Guggenheim decreased their price target on Visteon from $136.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.31.

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.