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

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

Visteon Stock Performance

Shares of NASDAQ VC traded down $1.58 during midday trading on Friday, reaching $111.53. 386,286 shares of the company traded hands, compared to its average volume of 271,695. Visteon has a 52 week low of $101.42 and a 52 week high of $159.06. The stock has a 50-day moving average price of $108.22 and a 200 day moving average price of $112.71. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.74 and a quick ratio of 1.37. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 6.37, a PEG ratio of 0.51 and a beta of 1.46.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VC shares. Guggenheim dropped their price objective on shares of Visteon from $136.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Robert W. Baird reiterated a “neutral” rating and set a $120.00 price objective (down previously from $137.00) on shares of Visteon in a research note on Friday, July 12th. Baird R W lowered shares of Visteon from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. TD Cowen decreased their price target on shares of Visteon from $142.00 to $140.00 and set a “buy” rating for the company in a research report on Friday. Finally, The Goldman Sachs Group decreased their price target on shares of Visteon from $161.00 to $133.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Visteon presently has an average rating of “Moderate Buy” and a consensus target price of $134.31.

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.