Visteon (NASDAQ:VC) Announces Quarterly Earnings Results

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

Visteon Stock Up 2.3 %

VC stock traded up $2.53 on Friday, reaching $112.19. 439,424 shares of the company traded hands, compared to its average volume of 286,890. The firm has a fifty day simple moving average of $113.72 and a 200-day simple moving average of $118.59. The company has a market cap of $3.08 billion, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 0.50 and a beta of 1.65. Visteon has a one year low of $105.19 and a one year high of $159.87. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.74 and a quick ratio of 1.42.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Royal Bank of Canada dropped their target price on Visteon from $188.00 to $146.00 and set an “outperform” rating for the company in a research report on Thursday, March 7th. Barclays raised shares of Visteon from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $140.00 to $145.00 in a research note on Wednesday, April 10th. UBS Group raised shares of Visteon from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $143.00 to $145.00 in a research note on Wednesday, January 17th. Robert W. Baird reduced their price objective on Visteon from $140.00 to $137.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, Guggenheim lowered their target price on Visteon from $136.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Visteon currently has a consensus rating of “Moderate Buy” and a consensus price target of $142.36.

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.