Visteon (NASDAQ:VC) Announces Quarterly Earnings Results

Visteon (NASDAQ:VC) posted its earnings results on Thursday. The company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.37, Briefing.com reports. The firm had revenue of $980.00 million during 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 business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.35 earnings per share. Visteon updated its FY 2024 guidance to EPS.

Visteon Trading Up 0.4 %

NASDAQ VC opened at $92.88 on Friday. The stock has a market capitalization of $2.56 billion, a P/E ratio of 5.31, a P/E/G ratio of 0.43 and a beta of 1.45. The business has a 50 day simple moving average of $94.49 and a 200 day simple moving average of $103.75. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.85 and a quick ratio of 1.50. Visteon has a one year low of $86.77 and a one year high of $136.40.

Insider Buying and Selling at Visteon

In related news, SVP Joao Paulo Ribeiro sold 3,859 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $111.73, for a total transaction of $431,166.07. Following the transaction, the senior vice president now directly owns 5,988 shares of the company’s stock, valued at $669,039.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wells Fargo & Company upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $115.00 to $122.00 in a report on Friday, September 20th. Royal Bank of Canada dropped their target price on Visteon from $129.00 to $124.00 and set an “outperform” rating for the company in a research report on Friday. Morgan Stanley reduced their price target on Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a report on Wednesday, August 14th. TD Cowen dropped their price objective on shares of Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a report on Friday, July 26th. Finally, Baird R W lowered shares of Visteon from a “strong-buy” rating to a “hold” rating in a report on Friday, July 12th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $127.57.

About Visteon

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.