Visteon (NASDAQ:VC) Announces Earnings Results

Visteon (NASDAQ:VC) posted its quarterly earnings data on Thursday. The company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.58, Briefing.com reports. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.01 billion. Visteon had a net margin of 12.60% and a return on equity of 53.49%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.18 EPS. Visteon updated its FY 2024 guidance to EPS.

Visteon Price Performance

VC stock traded down $1.58 during trading on Friday, reaching $111.53. 386,286 shares of the company were exchanged, compared to its average volume of 271,695. The company has a 50-day moving average of $108.22 and a two-hundred day moving average of $112.71. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 0.51 and a beta of 1.46. Visteon has a twelve month low of $101.42 and a twelve month high of $159.06. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.74 and a quick ratio of 1.37.

Analyst Ratings Changes

VC has been the subject of a number of recent analyst reports. Guggenheim cut their price target on shares of Visteon from $136.00 to $126.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. TD Cowen cut their price target on shares of Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a report on Friday. Robert W. Baird reaffirmed a “neutral” rating and set a $120.00 price target (down previously from $137.00) on shares of Visteon in a report on Friday, July 12th. Baird R W downgraded shares of Visteon from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Finally, JPMorgan Chase & Co. cut their price target on shares of Visteon from $144.00 to $135.00 and set a “neutral” rating for the company in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.