Visteon (NASDAQ:VC) Hits New 1-Year Low Following Weak Earnings

Visteon Co. (NASDAQ:VC)’s stock price hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $105.38 and last traded at $105.51, with a volume of 320282 shares trading hands. The stock had previously closed at $111.14.

The company reported $1.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.14). The business 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 53.49% and a net margin of 12.60%. The business’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.25 earnings per share.

Analyst Ratings Changes

A number of brokerages have commented on VC. Barclays upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $140.00 to $145.00 in a research note on Wednesday, April 10th. Wolfe Research restated a “peer perform” rating on shares of Visteon in a research note on Thursday, January 4th. UBS Group upgraded shares of Visteon from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $145.00 in a research note on Wednesday, January 17th. StockNews.com upgraded shares of Visteon from a “hold” rating to a “buy” rating in a research note on Thursday, January 11th. Finally, Guggenheim dropped their price objective on shares of Visteon from $136.00 to $126.00 and set a “buy” rating on the stock in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Visteon has a consensus rating of “Moderate Buy” and an average target price of $142.36.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in shares of Visteon by 3.0% in the third quarter. Fifth Third Bancorp now owns 2,988 shares of the company’s stock valued at $413,000 after purchasing an additional 86 shares during the period. PNC Financial Services Group Inc. boosted its position in Visteon by 1.9% during the third quarter. PNC Financial Services Group Inc. now owns 5,111 shares of the company’s stock worth $706,000 after acquiring an additional 94 shares during the last quarter. State of Michigan Retirement System boosted its position in Visteon by 1.5% during the first quarter. State of Michigan Retirement System now owns 6,807 shares of the company’s stock worth $801,000 after acquiring an additional 100 shares during the last quarter. Covestor Ltd boosted its position in Visteon by 105.7% during the third quarter. Covestor Ltd now owns 216 shares of the company’s stock worth $30,000 after acquiring an additional 111 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Visteon by 1.7% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,574 shares of the company’s stock worth $1,190,000 after acquiring an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 99.71% of the company’s stock.

Visteon Stock Up 2.3 %

The company has a quick ratio of 1.42, a current ratio of 1.74 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average is $113.58 and its two-hundred day moving average is $118.46. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 6.41, a price-to-earnings-growth ratio of 0.49 and a beta of 1.65.

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.