Zacks: Analysts Anticipate Visteon Corp (VC) Will Announce Quarterly Sales of $806.95 Million
Wall Street brokerages expect that Visteon Corp (NYSE:VC) will report $806.95 million in sales for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Visteon’s earnings, with estimates ranging from $795.00 million to $830.88 million. Visteon reported sales of $816.00 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 1.1%. The firm is expected to announce its next quarterly earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Visteon will report full year sales of $806.95 million for the current fiscal year, with estimates ranging from $3.14 billion to $3.18 billion. For the next fiscal year, analysts expect that the business will post sales of $3.30 billion per share, with estimates ranging from $3.19 billion to $3.34 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Visteon.
Visteon (NYSE:VC) last posted its quarterly earnings results on Thursday, October 26th. The auto parts company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.17. The firm had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $761.95 million. Visteon had a net margin of 4.83% and a return on equity of 29.13%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 earnings per share.
Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Visteon from $113.00 to $126.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Zacks Investment Research cut shares of Visteon from a “buy” rating to a “hold” rating in a report on Wednesday, October 25th. B. Riley reaffirmed a “buy” rating on shares of Visteon in a report on Wednesday, November 1st. Barclays increased their target price on shares of Visteon from $107.00 to $112.00 and gave the company an “equal weight” rating in a report on Friday, October 27th. Finally, BMO Capital Markets raised shares of Visteon from a “market perform” rating to an “outperform” rating and increased their target price for the company from $104.00 to $115.00 in a report on Friday, September 22nd. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $123.86.
In other news, insider Robert R. Vallance sold 1,106 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $121.12, for a total value of $133,958.72. Following the sale, the insider now directly owns 4,086 shares in the company, valued at $494,896.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sachin Lawande sold 5,000 shares of the 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 completion of the sale, the chief executive officer now owns 8,595 shares in the company, valued at $1,125,429.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,110 shares of company stock valued at $1,677,079. 0.19% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its position in Visteon by 2,531.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,000 shares of the auto parts company’s stock worth $102,000 after acquiring an additional 962 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Visteon by 6.2% during the second quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock worth $106,000 after acquiring an additional 61 shares during the last quarter. Quantbot Technologies LP boosted its position in Visteon by 2.8% during the second quarter. Quantbot Technologies LP now owns 1,089 shares of the auto parts company’s stock worth $111,000 after acquiring an additional 30 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Visteon by 64.6% during the second quarter. BNP Paribas Arbitrage SA now owns 1,340 shares of the auto parts company’s stock worth $137,000 after acquiring an additional 526 shares during the last quarter. Finally, Riverhead Capital Management LLC acquired a new stake in Visteon during the second quarter worth approximately $153,000.
Visteon (VC) opened at $123.55 on Friday. The stock has a market cap of $3,950.79, a PE ratio of 20.01, a P/E/G ratio of 1.36 and a beta of 0.85. Visteon has a 1-year low of $79.54 and a 1-year high of $133.04. 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 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.
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