Visteon (NASDAQ:VC) Announces Quarterly Earnings Results

Visteon (NASDAQ:VC) issued its quarterly 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 analyst estimates of $971.45 million. Visteon had a return on equity of 57.45% and a net margin of 12.29%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same period in the previous 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 mid-day trading on Friday, hitting $112.19. The stock had a trading volume of 439,424 shares, compared to its average volume of 286,890. Visteon has a 12-month low of $105.19 and a 12-month high of $159.87. The firm 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. The firm has a 50-day moving average of $113.72 and a two-hundred day moving average of $118.59. The company has a quick ratio of 1.42, a current ratio of 1.74 and a debt-to-equity ratio of 0.28.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Bank of America decreased their price target on Visteon from $165.00 to $160.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Barclays raised shares of Visteon from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of Visteon from $146.00 to $145.00 and set a “neutral” rating for the company in a report on Monday. Royal Bank of Canada lowered their price objective on shares of Visteon from $188.00 to $146.00 and set an “outperform” rating for the company in a research note on Thursday, March 7th. Finally, StockNews.com raised Visteon from a “hold” rating to a “buy” rating in a research report on Thursday, January 11th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.