Visteon (NASDAQ:VC) Hits New 1-Year Low – Here’s What Happened

Visteon Corporation (NASDAQ:VC)’s stock price reached a new 52-week low on Wednesday. The company traded as low as $71.51 and last traded at $70.3330, with a volume of 4,344 shares traded. The stock had previously closed at $73.76.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Wall Street Zen cut Visteon from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Robert W. Baird set a $95.00 price target on Visteon in a research report on Friday. Weiss Ratings lowered shares of Visteon from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday. TD Cowen decreased their price target on Visteon from $135.00 to $131.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Barclays dropped their target price on shares of Visteon from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Eight investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $119.64.

Visteon Stock Performance

The company has a 50-day moving average of $93.33 and a 200 day moving average of $100.26. The firm has a market cap of $1.76 billion, a P/E ratio of 12.15 and a beta of 1.30.

Visteon (NASDAQ:VC) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($2.09). The company had revenue of $970.00 million for the quarter, compared to analyst estimates of $936.38 million. During the same quarter last year, the company earned $2.15 EPS. The company’s quarterly revenue was up 5.8% compared to the same quarter last year. Sell-side analysts anticipate that Visteon Corporation will post 7.71 EPS for the current fiscal year.

Visteon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were issued a $0.3750 dividend. This represents a $1.50 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 1st. Visteon’s payout ratio is presently 25.86%.

Institutional Investors Weigh In On Visteon

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of Visteon in the 2nd quarter valued at about $31,654,000. First Trust Advisors LP boosted its stake in Visteon by 124.0% during the first quarter. First Trust Advisors LP now owns 519,041 shares of the company’s stock worth $47,290,000 after acquiring an additional 287,359 shares in the last quarter. Bank of America Corp DE lifted its stake in Visteon by 130.1% during the first quarter. Bank of America Corp DE now owns 396,310 shares of the company’s stock worth $36,108,000 after purchasing an additional 224,097 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Visteon by 14.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock worth $127,879,000 after purchasing an additional 175,679 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Visteon by 47.2% during the 1st quarter. Renaissance Technologies LLC now owns 317,600 shares of the company’s stock worth $28,937,000 after buying an additional 101,900 shares in the last quarter. Institutional investors own 99.71% of the company’s stock.

About Visteon

Visteon Corporation (NASDAQ: VC) is a global automotive technology company that develops and supplies electronic systems for vehicle manufacturers. Its products are designed to support the digital, connected and increasingly electrified vehicle, with a focus on improving the driving experience, vehicle functionality and energy efficiency.

The company’s product portfolio includes digital instrument clusters, displays, infotainment systems, connected-car technologies, cockpit domain controllers, climate-control electronics and other vehicle control systems.