Visteon (NASDAQ:VC) Hits New 1-Year Low on Disappointing Earnings

Visteon Corporation (NASDAQ:VC)’s share price reached a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $81.00 and last traded at $80.5820, with a volume of 2,262 shares trading hands. The stock had previously closed at $84.83.

The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $2.28 by ($2.09). Visteon had a net margin of 5.58% and a return on equity of 14.61%. The company had revenue of $970.00 million during the quarter, compared to the consensus estimate of $936.38 million. During the same period last year, the company earned $2.15 earnings per share. The business’s revenue was up 5.8% compared to the same quarter last year.

Visteon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were issued a dividend of $0.3750 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Tuesday, September 1st. Visteon’s payout ratio is presently 19.61%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. TD Cowen lifted their price objective on shares of Visteon from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. UBS Group cut their target price on Visteon from $130.00 to $107.00 and set a “buy” rating on the stock in a report on Wednesday, October 7th. Barclays cut their price target on shares of Visteon from $145.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, October 9th. Wall Street Zen downgraded shares of Visteon from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $121.00 target price on shares of Visteon in a research report on Friday, June 26th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Visteon currently has a consensus rating of “Moderate Buy” and an average target price of $126.82.

Hedge Funds Weigh In On Visteon

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp bought a new position in Visteon during the 2nd quarter worth approximately $31,654,000. First Trust Advisors LP boosted its position in Visteon by 124.0% during the 1st quarter. First Trust Advisors LP now owns 519,041 shares of the company’s stock valued at $47,290,000 after acquiring an additional 287,359 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Visteon by 130.1% during the 1st quarter. Bank of America Corp DE now owns 396,310 shares of the company’s stock valued at $36,108,000 after buying an additional 224,097 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Visteon by 14.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,403,695 shares of the company’s stock valued at $127,879,000 after purchasing an additional 175,679 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Visteon by 47.2% in the first quarter. Renaissance Technologies LLC now owns 317,600 shares of the company’s stock worth $28,937,000 after acquiring an additional 101,900 shares during the last quarter. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Trading Down 5.1%

The stock’s 50 day moving average is $95.70 and its 200-day moving average is $103.62. The company has a current ratio of 1.78, a quick ratio of 1.45 and a debt-to-equity ratio of 0.17. The company has a market cap of $2.15 billion, a P/E ratio of 10.83, a PEG ratio of 0.60 and a beta of 1.30.

About Visteon

Visteon Corporation (NASDAQ: VC) is a global automotive technology company that develops and supplies electronic systems for vehicle manufacturers. Its products are designed to support the digital, connected and increasingly electrified vehicle, with a focus on improving the driving experience, vehicle functionality and energy efficiency.

The company’s product portfolio includes digital instrument clusters, displays, infotainment systems, connected-car technologies, cockpit domain controllers, climate-control electronics and other vehicle control systems.