Jefferies Financial Group Brokers Reduce Earnings Estimates for Veoneer, Inc. (NYSE:VNE)


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Veoneer, Inc. (NYSE:VNE) – Equities research analysts at Jefferies Financial Group cut their Q2 2021 earnings per share (EPS) estimates for Veoneer in a research report issued to clients and investors on Thursday, April 29th. Jefferies Financial Group analyst D. Kelley now forecasts that the company will earn ($0.94) per share for the quarter, down from their prior estimate of ($0.90). Jefferies Financial Group also issued estimates for Veoneer’s Q3 2021 earnings at ($0.65) EPS, Q4 2021 earnings at ($0.55) EPS, FY2021 earnings at ($3.07) EPS and FY2022 earnings at ($1.75) EPS.

Veoneer (NYSE:VNE) last posted its quarterly earnings data on Wednesday, April 28th. The company reported ($0.93) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.07). Veoneer had a negative net margin of 40.13% and a negative return on equity of 30.60%.

A number of other brokerages have also issued reports on VNE. Royal Bank of Canada lowered Veoneer from a “sector perform” rating to an “underperform” rating and lifted their target price for the company from $15.00 to $17.00 in a research report on Thursday, January 7th. Kepler Capital Markets lowered shares of Veoneer to a “sell” rating and set a $19.00 price objective on the stock. in a research report on Thursday, April 8th. Credit Suisse Group increased their target price on shares of Veoneer from $12.00 to $18.00 and gave the stock an “underperform” rating in a report on Tuesday, March 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Veoneer from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Thursday, February 4th. Finally, Zacks Investment Research downgraded shares of Veoneer from a “hold” rating to a “sell” rating in a research note on Thursday, April 29th. Five equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Veoneer has a consensus rating of “Hold” and a consensus price target of $19.92.

Shares of Veoneer stock opened at $22.29 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.33 and a quick ratio of 2.10. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of -4.51 and a beta of 2.66. The stock’s 50-day moving average is $24.81 and its 200-day moving average is $23.21. Veoneer has a one year low of $8.28 and a one year high of $30.71.

Large investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new position in shares of Veoneer during the 4th quarter worth approximately $321,000. First Trust Advisors LP boosted its position in Veoneer by 38.1% during the fourth quarter. First Trust Advisors LP now owns 156,153 shares of the company’s stock worth $3,326,000 after purchasing an additional 43,120 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of Veoneer in the fourth quarter valued at $213,000. Victory Capital Management Inc. raised its position in shares of Veoneer by 5.4% in the fourth quarter. Victory Capital Management Inc. now owns 15,704 shares of the company’s stock valued at $334,000 after purchasing an additional 801 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Veoneer by 401.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 263,015 shares of the company’s stock valued at $5,602,000 after purchasing an additional 210,559 shares during the period. Hedge funds and other institutional investors own 26.26% of the company’s stock.

About Veoneer

Veoneer, Inc engages in the design, development, manufacture, and sale of automotive safety electronics primarily in North America, Europe, and Asia. It offers automotive radars, mono-and stereo-vision cameras, night driving assist systems, advanced driver assist systems (ADAS), electronic control units, airbag control units, crash sensors, seat belt pre-tensioner electronic controllers, and ADAS software for highly automated driving (HAD) and autonomous driving (AD).

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Earnings History and Estimates for Veoneer (NYSE:VNE)

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