Visteon (NASDAQ:VC) Announces Quarterly Earnings Results

Visteon (NASDAQ:VC) posted its earnings results on Thursday. The company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.75 by ($0.14), Briefing.com reports. The firm had revenue of $933.00 million during the quarter, compared to the consensus estimate of $971.45 million. Visteon had a net margin of 12.29% and a return on equity of 57.45%. Visteon’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.25 earnings per share. Visteon updated its FY 2024 guidance to EPS.

Visteon Stock Up 2.3 %

Shares of VC traded up $2.53 during midday trading on Friday, hitting $112.19. 439,424 shares of the company’s stock traded hands, compared to its average volume of 286,890. 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’s fifty day moving average is $113.72 and its 200-day moving average is $118.59. Visteon has a 1 year low of $105.19 and a 1 year high of $159.87. The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 6.56, a price-to-earnings-growth ratio of 0.50 and a beta of 1.65.

Analyst Upgrades and Downgrades

Several research firms have commented on VC. Wells Fargo & Company upgraded Visteon from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $106.00 to $108.00 in a research report on Friday. Barclays upgraded Visteon from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. Wolfe Research restated a “peer perform” rating on shares of Visteon in a research report on Thursday, January 4th. Robert W. Baird lowered their price objective on Visteon from $140.00 to $137.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Guggenheim decreased their target price on Visteon from $136.00 to $126.00 and set a “buy” rating for the company in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.