V2X (NYSE:VVX) Releases Quarterly Earnings Results, Beats Expectations By $0.22 EPS

V2X (NYSE:VVX) announced its quarterly earnings data on Monday. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.22, Briefing.com reports. V2X had a return on equity of 13.52% and a net margin of 0.22%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $0.73 EPS. V2X’s revenue for the quarter was up 8.0% compared to the same quarter last year. V2X updated its FY 2024 guidance to 3.950-4.200 EPS.

V2X Price Performance

V2X stock opened at $62.68 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market capitalization of $1.95 billion, a PE ratio of 223.87 and a beta of 0.57. V2X has a one year low of $37.04 and a one year high of $66.00. The business has a 50 day simple moving average of $57.42 and a 200 day simple moving average of $51.79.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on VVX shares. Raymond James lifted their price objective on V2X from $60.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $70.00 price objective on shares of V2X in a report on Tuesday. Robert W. Baird assumed coverage on V2X in a report on Friday, October 11th. They set an “outperform” rating and a $75.00 price objective on the stock. Baird R W upgraded V2X to a “strong-buy” rating in a research report on Friday, October 11th. Finally, JMP Securities raised their target price on V2X from $65.00 to $80.00 and gave the stock a “market outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $70.60.

Insider Buying and Selling

In other V2X news, Director Eric M. Pillmore acquired 3,125 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $48.00 per share, for a total transaction of $150,000.00. Following the transaction, the director now owns 41,516 shares in the company, valued at $1,992,768. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other V2X news, Director Eric M. Pillmore acquired 3,125 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $48.00 per share, for a total transaction of $150,000.00. Following the transaction, the director now owns 41,516 shares in the company, valued at $1,992,768. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy C. Wensinger acquired 6,250 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $48.00 per share, with a total value of $300,000.00. Following the transaction, the chief executive officer now owns 6,250 shares in the company, valued at approximately $300,000. The disclosure for this purchase can be found here. Insiders purchased 11,936 shares of company stock worth $572,928 in the last 90 days. 1.10% of the stock is owned by company insiders.

About V2X

V2X, Inc provides critical mission solutions and support services to defense clients worldwide. It offers a suite of integrated solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian, and international clients. The company was incorporated in 2014 and is headquartered in Mclean, Virginia.