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

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

Aptiv Stock Down 4.8 %

NYSE APTV traded down $3.50 during mid-day trading on Friday, hitting $69.63. The company’s stock had a trading volume of 6,391,902 shares, compared to its average volume of 3,260,238. The company has a current ratio of 1.49, a quick ratio of 0.89 and a debt-to-equity ratio of 0.47. The company’s 50 day simple moving average is $73.36 and its 200 day simple moving average is $76.84. Aptiv has a twelve month low of $65.13 and a twelve month high of $113.14. The firm has a market capitalization of $18.94 billion, a price-to-earnings ratio of 6.56, a PEG ratio of 0.66 and a beta of 1.79.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. UBS Group reduced their price target on shares of Aptiv from $107.00 to $99.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Royal Bank of Canada decreased their target price on shares of Aptiv from $101.00 to $86.00 and set an “overweight” rating on the stock in a research note on Wednesday. Piper Sandler downgraded Aptiv from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $78.00 to $63.00 in a research report on Wednesday, June 26th. JPMorgan Chase & Co. cut their price target on shares of Aptiv from $113.00 to $104.00 and set an “overweight” rating on the stock in a report on Monday, July 22nd. Finally, Barclays cut their price objective on Aptiv from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 16th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $97.14.

Insider Buying and Selling at Aptiv

In related news, Director Nancy E. Cooper sold 394 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $76.98, for a total transaction of $30,330.12. Following the completion of the sale, the director now owns 13,636 shares in the company, valued at $1,049,699.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.34% of the company’s stock.

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.