Visteon (NASDAQ:VC) Releases Quarterly Earnings Results, Beats Estimates By $0.58 EPS

Visteon (NASDAQ:VC) posted its quarterly earnings results on Thursday. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $1.96 by $0.58, Briefing.com reports. Visteon had a net margin of 12.60% and a return on equity of 53.49%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the previous year, the company posted $1.18 EPS. Visteon’s revenue was up 3.2% on a year-over-year basis. Visteon updated its FY 2024 guidance to EPS.

Visteon Price Performance

Shares of NASDAQ VC traded down $1.58 during mid-day trading on Friday, hitting $111.53. 386,286 shares of the stock were exchanged, compared to its average volume of 271,695. The company has a market cap of $3.08 billion, a P/E ratio of 6.37, a PEG ratio of 0.51 and a beta of 1.46. The stock’s fifty day simple moving average is $108.22 and its two-hundred day simple moving average is $112.71. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.37 and a current ratio of 1.74. Visteon has a twelve month low of $101.42 and a twelve month high of $159.06.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on VC shares. Morgan Stanley cut their target price on shares of Visteon from $145.00 to $135.00 and set an “equal weight” rating for the company in a research report on Friday, May 10th. Barclays upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Robert W. Baird restated a “neutral” rating and set a $120.00 price target (down from $137.00) on shares of Visteon in a report on Friday, July 12th. Citigroup decreased their price target on shares of Visteon from $139.00 to $126.00 and set a “buy” rating for the company in a report on Friday, July 12th. Finally, UBS Group decreased their price target on shares of Visteon from $144.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.31.

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.