Visteon (NASDAQ:VC) Releases Quarterly Earnings Results, Beats Estimates By $0.58 EPS

Visteon (NASDAQ:VC) released its quarterly earnings data on Thursday. The company reported $2.54 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.58, Briefing.com reports. Visteon had a return on equity of 53.49% and a net margin of 12.60%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business posted $1.18 EPS. Visteon’s revenue for the quarter was up 3.2% on a year-over-year basis. Visteon updated its FY 2024 guidance to EPS.

Visteon Stock Down 1.4 %

Shares of NASDAQ:VC traded down $1.58 during trading on Friday, hitting $111.53. 386,286 shares of the company were exchanged, compared to its average volume of 271,695. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 6.37, a P/E/G ratio of 0.51 and a beta of 1.46. Visteon has a fifty-two week low of $101.42 and a fifty-two week high of $159.06. The firm has a fifty day moving average price of $108.22 and a two-hundred day moving average price of $112.71. The company has a current ratio of 1.74, a quick ratio of 1.37 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Guggenheim cut their price objective on Visteon from $136.00 to $126.00 and set a “buy” rating on the stock in a report on Wednesday, April 17th. Wells Fargo & Company lifted their target price on Visteon from $107.00 to $115.00 and gave the company an “equal weight” rating in a research report on Friday. The Goldman Sachs Group dropped their target price on Visteon from $161.00 to $133.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. dropped their target price on Visteon from $144.00 to $135.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, UBS Group dropped their target price on Visteon from $144.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

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.