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

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

Visteon Price Performance

Shares of Visteon stock opened at $92.88 on Friday. Visteon has a 52 week low of $86.77 and a 52 week high of $136.40. 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 stock has a market cap of $2.56 billion, a PE ratio of 5.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.45. The company’s 50-day moving average price is $94.49 and its two-hundred day moving average price is $103.68.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Wolfe Research started coverage on Visteon in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Morgan Stanley cut their price objective on shares of Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $124.00 target price on shares of Visteon in a research note on Tuesday, September 10th. Robert W. Baird restated a “neutral” rating and issued a $120.00 price target (down previously from $137.00) on shares of Visteon in a research note on Friday, July 12th. Finally, Citigroup cut their price target on Visteon from $139.00 to $126.00 and set a “buy” rating on the stock in a report on Friday, July 12th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $127.57.

Insider Activity

In other Visteon news, SVP Joao Paulo Ribeiro sold 3,859 shares of Visteon stock in a transaction that occurred on Monday, July 29th. The shares were 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 in the company, valued at approximately $669,039.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

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.