Aptiv (NYSE:APTV) Releases Quarterly Earnings Results, Beats Estimates By $0.16 EPS

Aptiv (NYSE:APTV) issued its quarterly earnings results on Thursday. The auto parts company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.42 by $0.16, Briefing.com reports. Aptiv had a net margin of 18.46% and a return on equity of 13.19%. The business had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.30 billion. During the same quarter last year, the company posted $1.25 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. Aptiv updated its FY 2024 guidance to 6.150-6.450 EPS and its FY24 guidance to $6.15-6.45 EPS.

Aptiv Price Performance

NYSE:APTV traded down $3.50 during trading hours on Friday, reaching $69.63. 6,391,902 shares of the company’s stock were exchanged, compared to its average volume of 3,260,238. The company has a market capitalization of $18.94 billion, a P/E ratio of 6.56, a price-to-earnings-growth ratio of 0.66 and a beta of 1.79. Aptiv has a 12 month low of $65.13 and a 12 month high of $113.14. The company has a quick ratio of 0.89, a current ratio of 1.49 and a debt-to-equity ratio of 0.47. The business’s 50-day simple moving average is $73.36 and its two-hundred day simple moving average is $76.87.

Wall Street Analysts Forecast Growth

APTV has been the topic of several research reports. Wells Fargo & Company dropped their price objective on shares of Aptiv from $82.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Friday. Citigroup dropped their price objective on shares of Aptiv from $128.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, July 12th. Bank of America dropped their price objective on shares of Aptiv from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, July 22nd. Oppenheimer reiterated an “outperform” rating and set a $145.00 price objective on shares of Aptiv in a research note on Tuesday, July 9th. Finally, Evercore ISI dropped their price target on shares of Aptiv from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Monday, July 15th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Aptiv has a consensus rating of “Moderate Buy” and an average target price of $97.14.

Insider Buying and Selling

In related news, Director Nancy E. Cooper sold 394 shares of the firm’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $76.98, for a total value of $30,330.12. Following the completion of the transaction, the director now owns 13,636 shares of the company’s stock, valued at approximately $1,049,699.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by insiders.

Aptiv Company Profile

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.