Aptiv (NYSE:APTV) Issues FY 2024 Earnings Guidance

Aptiv (NYSE:APTV) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 6.000-6.300 for the period, compared to the consensus EPS estimate of 6.210. The company issued revenue guidance of $19.6 billion-$19.9 billion, compared to the consensus revenue estimate of $20.2 billion. Aptiv also updated its FY24 guidance to $6.00-6.30 EPS.

Aptiv Price Performance

APTV stock traded down $0.46 during trading on Friday, hitting $56.37. 6,184,402 shares of the company’s stock traded hands, compared to its average volume of 3,042,018. The business has a fifty day simple moving average of $69.58 and a 200 day simple moving average of $72.41. Aptiv has a 52 week low of $54.70 and a 52 week high of $91.66. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.09 and a current ratio of 1.49. The stock has a market capitalization of $14.98 billion, a price-to-earnings ratio of 4.26, a P/E/G ratio of 0.63 and a beta of 1.79.

Aptiv (NYSE:APTV) last released its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.69 by $0.14. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter last year, the business posted $1.30 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, research analysts expect that Aptiv will post 6.23 EPS for the current fiscal year.

Analysts Set New Price Targets

APTV has been the subject of several recent analyst reports. The Goldman Sachs Group dropped their price objective on shares of Aptiv from $118.00 to $101.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Oppenheimer dropped their price target on shares of Aptiv from $147.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday. Bank of America reduced their price objective on shares of Aptiv from $105.00 to $102.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Evercore ISI decreased their price objective on shares of Aptiv from $125.00 to $115.00 and set an “outperform” rating for the company in a research note on Monday, July 15th. Finally, Wells Fargo & Company upgraded Aptiv from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $78.00 to $87.00 in a report on Friday, September 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.18.

Aptiv Company Profile

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.