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

Visteon (NASDAQ:VC) posted its earnings results on Thursday. The company reported $2.26 EPS for the quarter, topping the consensus estimate of $1.89 by $0.37, Briefing.com reports. The firm had revenue of $980.00 million for the quarter, compared to analysts’ expectations of $965.60 million. Visteon had a net margin of 13.79% and a return on equity of 51.69%. The company’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.35 EPS. Visteon updated its FY 2024 guidance to EPS.

Visteon Trading Up 5.5 %

NASDAQ VC opened at $92.47 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.50 and a current ratio of 1.85. The firm’s fifty day moving average is $94.58 and its two-hundred day moving average is $103.89. Visteon has a one year low of $86.77 and a one year high of $136.40. The firm has a market cap of $2.55 billion, a PE ratio of 4.78, a P/E/G ratio of 0.43 and a beta of 1.45.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Wolfe Research initiated coverage on Visteon in a research note on Thursday, September 5th. They set a “peer perform” rating on the stock. UBS Group decreased their price target on shares of Visteon from $144.00 to $135.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Robert W. Baird reissued a “neutral” rating and issued a $120.00 price target (down from $137.00) on shares of Visteon in a research note on Friday, July 12th. Morgan Stanley decreased their price objective on Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. Finally, Wells Fargo & Company raised Visteon from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $115.00 to $122.00 in a research note on Friday, September 20th. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $127.93.

Insider Activity at Visteon

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $111.73, for a total transaction of $431,166.07. Following the completion of the transaction, the senior vice president now owns 5,988 shares of the company’s stock, valued at approximately $669,039.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 2.00% of the stock is owned by insiders.

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.