Visteon (NASDAQ:VC) Announces Quarterly Earnings Results

Visteon (NASDAQ:VC) posted its earnings results on Thursday. The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.14), Briefing.com reports. The company had revenue of $933.00 million for the quarter, compared to the consensus estimate of $971.45 million. Visteon had a net margin of 12.60% and a return on equity of 53.49%. Visteon’s revenue was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.25 EPS. Visteon updated its FY 2024 guidance to EPS.

Visteon Stock Up 2.3 %

Shares of VC opened at $112.19 on Friday. The company has a market cap of $3.08 billion, a PE ratio of 6.41, a P/E/G ratio of 0.49 and a beta of 1.65. The business has a fifty day moving average of $113.58 and a 200 day moving average of $118.46. Visteon has a 52-week low of $105.19 and a 52-week high of $159.87. The company has a quick ratio of 1.42, a current ratio of 1.74 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wells Fargo & Company upgraded shares of Visteon from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $106.00 to $108.00 in a research note on Friday. Guggenheim reduced their target price on shares of Visteon from $136.00 to $126.00 and set a “buy” rating for the company in a report on Wednesday, April 17th. Bank of America cut their price objective on shares of Visteon from $165.00 to $160.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Barclays raised shares of Visteon from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $140.00 to $145.00 in a report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. lowered their target price on Visteon from $146.00 to $145.00 and set a “neutral” rating for the company in a research report on Monday, April 22nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Visteon presently has an average rating of “Moderate Buy” and a consensus price target of $142.36.

About Visteon

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.