V2X (NYSE:VVX) Issues Earnings Results, Beats Expectations By $0.22 EPS

V2X (NYSE:VVX) released its quarterly earnings results on Monday. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.22, Briefing.com reports. V2X had a negative net margin of 0.30% and a positive return on equity of 11.69%. The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $0.73 earnings per share. The firm’s revenue for the quarter was up 8.0% compared to the same quarter last year. V2X updated its FY 2024 guidance to 3.950-4.200 EPS.

V2X Stock Down 1.6 %

Shares of NYSE VVX traded down $0.97 during midday trading on Tuesday, hitting $60.94. The stock had a trading volume of 168,866 shares, compared to its average volume of 102,288. The business’s 50 day moving average is $57.29 and its 200-day moving average is $51.69. V2X has a 52 week low of $37.04 and a 52 week high of $66.00. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.15. The company has a market cap of $1.90 billion, a P/E ratio of -149.75 and a beta of 0.57.

Insider Activity at V2X

In other V2X news, Director Eric M. Pillmore acquired 3,125 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $48.00 per share, with a total value of $150,000.00. Following the transaction, the director now owns 41,516 shares of the company’s stock, valued at $1,992,768. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Eric M. Pillmore bought 3,125 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $48.00 per share, for a total transaction of $150,000.00. Following the purchase, the director now owns 41,516 shares of the company’s stock, valued at approximately $1,992,768. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shawn Mural purchased 937 shares of V2X stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $48.00 per share, with a total value of $44,976.00. Following the completion of the purchase, the chief financial officer now directly owns 1,437 shares of the company’s stock, valued at approximately $68,976. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 11,936 shares of company stock valued at $572,928 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Robert W. Baird assumed coverage on V2X in a research report on Friday, October 11th. They set an “outperform” rating and a $75.00 price target on the stock. Baird R W upgraded shares of V2X to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of V2X in a report on Tuesday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $65.20.

About V2X

V2X, Inc provides critical mission solutions and support services to defense clients worldwide. It offers a suite of integrated solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian, and international clients. The company was incorporated in 2014 and is headquartered in Mclean, Virginia.