Visteon (NASDAQ:VC) Announces Quarterly Earnings Results

Visteon (NASDAQ:VC - Get Free Report) issued its earnings results on Thursday. The company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($0.14), Briefing.com reports. The business had revenue of $933.00 million for the quarter, compared to analysts' expectations of $971.45 million. Visteon had a return on equity of 57.45% and a net margin of 12.29%. The business's quarterly revenue was down 3.5% on a year-over-year basis. During the same period last year, the company posted $1.25 earnings per share. Visteon updated its FY 2024 guidance to EPS.

Visteon Trading Up 2.3 %

Shares of Visteon stock traded up $2.53 during trading hours on Friday, hitting $112.19. The company's stock had a trading volume of 439,424 shares, compared to its average volume of 286,890. Visteon has a 1-year low of $105.19 and a 1-year high of $159.87. The business has a fifty day moving average of $113.58 and a 200 day moving average of $118.46. The company has a market capitalization of $3.08 billion, a PE ratio of 6.53, a P/E/G ratio of 0.50 and a beta of 1.65. The company has a quick ratio of 1.42, a current ratio of 1.74 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on VC. UBS Group raised Visteon from a "neutral" rating to a "buy" rating and increased their target price for the stock from $143.00 to $145.00 in a research note on Wednesday, January 17th. Wells Fargo & Company raised Visteon from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $106.00 to $108.00 in a research note on Friday. Guggenheim dropped their price objective on Visteon from $136.00 to $126.00 and set a "buy" rating for the company in a research note on Wednesday, April 17th. JPMorgan Chase & Co. dropped their price objective on Visteon from $146.00 to $145.00 and set a "neutral" rating for the company in a research note on Monday. Finally, Robert W. Baird dropped their price objective on Visteon from $140.00 to $137.00 and set an "outperform" rating for the company in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $142.36.

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.