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

V2X (NYSE:VVX) posted its quarterly earnings data on Monday. The company reported $1.29 earnings per share (EPS) 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 analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $0.73 EPS. V2X’s revenue was up 8.0% compared to the same quarter last year. V2X updated its FY 2024 guidance to 3.950-4.200 EPS.

V2X Trading Up 9.8 %

NYSE VVX traded up $6.14 on Wednesday, reaching $68.82. The stock had a trading volume of 312,115 shares, compared to its average volume of 104,569. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 223.87 and a beta of 0.57. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.15. V2X has a 12-month low of $37.04 and a 12-month high of $69.27. The stock has a fifty day moving average price of $57.42 and a two-hundred day moving average price of $51.79.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports 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 reiterated an “outperform” rating and issued a $70.00 price objective on shares of V2X in a report on Tuesday. Baird R W upgraded V2X to a “strong-buy” rating in a report on Friday, October 11th. JMP Securities upped their price objective on V2X from $65.00 to $80.00 and gave the company a “market outperform” rating in a report on Tuesday. Finally, Robert W. Baird assumed coverage on V2X in a report on Friday, October 11th. They issued an “outperform” rating and a $75.00 price objective on the stock. One analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $70.60.

Insider Buying and Selling at V2X

In other news, CEO Jeremy C. Wensinger bought 6,250 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $48.00 per share, with a total value of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,250 shares in the company, valued at $300,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO William Boyd Noon acquired 1,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $48.00 per share, with a total value of $48,000.00. Following the completion of the transaction, the chief accounting officer now owns 10,931 shares of the company’s stock, valued at $524,688. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy C. Wensinger acquired 6,250 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $48.00 per share, for a total transaction of $300,000.00. Following the transaction, the chief executive officer now directly owns 6,250 shares of the company’s stock, valued at approximately $300,000. The disclosure for this purchase can be found here. Insiders have bought a total of 11,936 shares of company stock valued at $572,928 over the last quarter. 1.10% of the stock is owned by company insiders.

V2X Company Profile

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.