Aptiv (NYSE:APTV) Updates FY24 Earnings Guidance

Aptiv (NYSE:APTV) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $6.00-6.30 for the period, compared to the consensus EPS estimate of $6.23. The company issued revenue guidance of $19.6-19.9 billion, compared to the consensus revenue estimate of $20.14 billion. Aptiv also updated its FY 2024 guidance to 6.000-6.300 EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Aptiv in a report on Thursday, September 5th. They issued an “outperform” rating and a $89.00 price objective for the company. Barclays decreased their target price on Aptiv from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Monday, August 5th. UBS Group reduced their price objective on shares of Aptiv from $107.00 to $99.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Royal Bank of Canada boosted their price target on shares of Aptiv from $85.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Finally, Evercore ISI reduced their price target on shares of Aptiv from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $95.50.

Aptiv Trading Down 12.9 %

Shares of Aptiv stock traded down $8.92 during trading on Thursday, hitting $60.15. 995,522 shares of the company were exchanged, compared to its average volume of 2,944,837. The firm has a market capitalization of $16.36 billion, a P/E ratio of 5.67, a price-to-earnings-growth ratio of 0.65 and a beta of 1.79. Aptiv has a 1-year low of $60.10 and a 1-year high of $91.66. The firm’s fifty day moving average price is $70.16 and its 200 day moving average price is $72.63. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.49 and a quick ratio of 1.09.

Aptiv (NYSE:APTV) last released its earnings results on Thursday, August 1st. The auto parts company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.42 by $0.16. The firm had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. Aptiv had a return on equity of 13.19% and a net margin of 18.46%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, sell-side analysts expect that Aptiv will post 6.28 earnings per share for the current fiscal year.

About Aptiv

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.