Visteon (NASDAQ:VC) Announces Quarterly Earnings Results

Visteon (NASDAQ:VC) issued its quarterly earnings results on Thursday. The company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.89 by $0.37, Briefing.com reports. The company had revenue of $980.00 million for the quarter, compared to analyst estimates of $965.60 million. Visteon had a return on equity of 51.69% and a net margin of 13.79%. 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 company posted $2.35 EPS. Visteon updated its FY 2024 guidance to EPS.

Visteon Stock Performance

Visteon stock opened at $92.88 on Friday. Visteon has a 12-month low of $86.77 and a 12-month high of $136.40. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.85 and a quick ratio of 1.50. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 5.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.45. The firm’s fifty day moving average price is $94.49 and its 200 day moving average price is $103.75.

Insider Buying and Selling at Visteon

In other Visteon 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 in the company, valued at $669,039.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group reduced 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. Citigroup cut their price target on shares of Visteon from $139.00 to $126.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Wolfe Research assumed coverage on shares of Visteon in a research note on Thursday, September 5th. They set a “peer perform” rating for the company. Morgan Stanley cut their target price on Visteon from $135.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Wednesday, August 14th. Finally, Baird R W lowered Visteon from a “strong-buy” rating to a “hold” rating in a research note on Friday, July 12th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Visteon currently has a consensus rating of “Moderate Buy” and a consensus target price of $127.57.

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.