VIZIO (NYSE:VZIO) Posts Earnings Results, Misses Expectations By $0.07 EPS

VIZIO (NYSE:VZIO) announced its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.07), Briefing.com reports. VIZIO had a return on equity of 6.84% and a net margin of 1.68%. The business had revenue of $353.90 million during the quarter, compared to the consensus estimate of $373.95 million. The business’s quarterly revenue was down .8% compared to the same quarter last year.

VIZIO Stock Performance

Shares of NYSE VZIO traded down $0.14 during mid-day trading on Thursday, reaching $10.34. The company had a trading volume of 3,184,253 shares, compared to its average volume of 2,681,421. VIZIO has a one year low of $4.82 and a one year high of $11.28. The business’s 50-day simple moving average is $10.87 and its 200 day simple moving average is $8.58. The firm has a market cap of $2.05 billion, a price-to-earnings ratio of 69.47, a PEG ratio of 2.11 and a beta of 2.08.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Craig Hallum reissued a “hold” rating on shares of VIZIO in a research note on Wednesday, February 21st. TheStreet upgraded shares of VIZIO from a “d+” rating to a “c-” rating in a report on Tuesday, February 20th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $11.50 target price (up previously from $10.00) on shares of VIZIO in a research report on Wednesday, February 21st. Wells Fargo & Company restated an “equal weight” rating and set a $11.50 price objective (up from $10.00) on shares of VIZIO in a research note on Tuesday, February 27th. Finally, Roth Capital cut VIZIO from a “buy” rating to a “neutral” rating in a research report on Wednesday, February 21st. One analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.77.

Insider Buying and Selling

In related news, Director David Eugene Russell sold 300,000 shares of VIZIO stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $9.91, for a total value of $2,973,000.00. Following the transaction, the director now directly owns 2,536,542 shares of the company’s stock, valued at $25,137,131.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 45.06% of the stock is currently owned by company insiders.

About VIZIO

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.