Visteon (NASDAQ:VC) Posts Earnings Results, Misses Expectations By $0.14 EPS

Visteon (NASDAQ:VC) announced its 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 analysts’ expectations of $971.45 million. Visteon had a return on equity of 57.45% and a net margin of 12.29%. Visteon’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 EPS. Visteon updated its FY 2024 guidance to EPS.

Visteon Stock Up 2.4 %

Shares of NASDAQ:VC traded up $2.63 on Friday, reaching $112.29. The company had a trading volume of 264,235 shares, compared to its average volume of 284,664. The company has a current ratio of 1.74, a quick ratio of 1.42 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $3.09 billion, a PE ratio of 6.56, a PEG ratio of 0.50 and a beta of 1.65. Visteon has a 52-week low of $105.19 and a 52-week high of $159.87. The firm’s 50 day simple moving average is $113.72 and its 200-day simple moving average is $118.59.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on VC. Robert W. Baird reduced their price objective on shares of Visteon from $140.00 to $137.00 and set an “outperform” rating on the stock in a research report on Friday. UBS Group upgraded Visteon from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $143.00 to $145.00 in a report on Wednesday, January 17th. Bank of America reduced their target price on Visteon from $165.00 to $160.00 and set a “buy” rating on the stock in a research note on Thursday, February 29th. Wells Fargo & Company raised shares of Visteon from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $106.00 to $108.00 in a research note on Friday. Finally, 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 report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $142.36.

Visteon Company Profile

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.