Visteon (VC) Announces Quarterly Earnings Results

Visteon (NYSE:VC) issued its quarterly earnings data on Thursday. The auto parts company reported $1.64 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($0.09), Bloomberg Earnings reports. Visteon had a return on equity of 29.13% and a net margin of 4.83%. The business had revenue of $797.00 million during the quarter, compared to analyst estimates of $797.55 million. During the same quarter last year, the firm earned $1.55 EPS. Visteon’s revenue for the quarter was down 2.3% compared to the same quarter last year.

Visteon (VC) traded down $0.15 during mid-day trading on Thursday, reaching $124.41. 318,800 shares of the company’s stock traded hands, compared to its average volume of 311,800. The company has a current ratio of 1.97, a quick ratio of 1.76 and a debt-to-equity ratio of 0.47. Visteon has a 52-week low of $91.20 and a 52-week high of $140.64. The company has a market cap of $3,970.00, a price-to-earnings ratio of 24.40, a P/E/G ratio of 1.34 and a beta of 0.85.

Visteon declared that its board has approved a stock repurchase plan on Tuesday, January 16th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the auto parts company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In related news, CEO Sachin Lawande sold 5,000 shares of Visteon stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $130.94, for a total transaction of $654,700.00. Following the sale, the chief executive officer now directly owns 8,595 shares of the company’s stock, valued at approximately $1,125,429.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 15,000 shares of company stock worth $1,938,500. Insiders own 0.19% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Xact Kapitalforvaltning AB bought a new stake in shares of Visteon during the 4th quarter valued at approximately $357,000. J. Goldman & Co LP bought a new stake in shares of Visteon during the 4th quarter valued at approximately $9,113,000. Gotham Asset Management LLC grew its holdings in shares of Visteon by 126.3% during the 4th quarter. Gotham Asset Management LLC now owns 107,858 shares of the auto parts company’s stock valued at $13,497,000 after purchasing an additional 60,201 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Visteon by 62.5% during the 4th quarter. Millennium Management LLC now owns 42,927 shares of the auto parts company’s stock valued at $5,372,000 after purchasing an additional 16,515 shares during the last quarter. Finally, Meadow Creek Investment Management LLC grew its holdings in shares of Visteon by 86.5% during the 4th quarter. Meadow Creek Investment Management LLC now owns 17,442 shares of the auto parts company’s stock valued at $2,183,000 after purchasing an additional 8,092 shares during the last quarter.

Several analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Visteon from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $142.00 to $137.00 in a research note on Monday, January 22nd. Citigroup lifted their price objective on shares of Visteon from $113.00 to $126.00 and gave the stock a “neutral” rating in a research note on Monday, October 30th. Longbow Research started coverage on shares of Visteon in a report on Friday, January 5th. They issued a “buy” rating and a $160.00 target price on the stock. Zacks Investment Research raised shares of Visteon from a “hold” rating to a “buy” rating and set a $140.00 target price on the stock in a report on Wednesday, December 27th. Finally, B. Riley reissued a “buy” rating on shares of Visteon in a report on Wednesday, November 1st. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $134.25.

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About Visteon

Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.

Earnings History for Visteon (NYSE:VC)

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