Visteon Corp (NYSE:VC) – Investment analysts at Gabelli issued their FY2022 earnings per share estimates for Visteon in a research report issued on Monday, according to Zacks Investment Research. Gabelli analyst B. Sponheimer expects that the auto parts company will post earnings of $14.15 per share for the year. Gabelli has a “Buy” rating and a $158.00 price objective on the stock.
Visteon (NYSE:VC) last issued its earnings results on Thursday, February 22nd. The auto parts company reported $1.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.73 by ($0.09). Visteon had a net margin of 4.83% and a return on equity of 29.13%. The company had revenue of $797.00 million during the quarter, compared to analysts’ expectations of $797.55 million. During the same period last year, the business posted $1.55 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis.
VC has been the subject of a number of other reports. JPMorgan Chase & Co. cut shares of Visteon from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $142.00 to $137.00 in a research note on Monday, January 22nd. BMO Capital Markets set a $160.00 price objective on shares of Visteon and gave the stock a “buy” rating in a research note on Friday, February 23rd. Zacks Investment Research raised shares of Visteon from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, December 27th. Longbow Research began coverage on shares of Visteon in a research note on Friday, January 5th. They set a “buy” rating and a $160.00 price objective for the company. Finally, B. Riley raised their price objective on shares of Visteon from $140.00 to $162.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $137.76.
Shares of Visteon (NYSE VC) traded down $1.72 on Tuesday, hitting $121.80. 221,019 shares of the stock were exchanged, compared to its average volume of 335,393. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 1.97. Visteon has a fifty-two week low of $91.20 and a fifty-two week high of $140.64. The stock has a market cap of $3,840.00, a PE ratio of 9.80, a price-to-earnings-growth ratio of 1.34 and a beta of 0.88.
Visteon declared that its board has authorized a stock buyback plan on Tuesday, January 16th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the auto parts company to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
In related news, CEO Sachin Lawande sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $125.00, for a total transaction of $312,500.00. Following the sale, the chief executive officer now owns 8,595 shares in the company, valued at $1,074,375. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 11,539 shares of company stock worth $1,474,051. 0.19% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Visteon by 6.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,040 shares of the auto parts company’s stock valued at $106,000 after purchasing an additional 61 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Visteon by 32.3% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 1,773 shares of the auto parts company’s stock valued at $219,000 after purchasing an additional 433 shares during the last quarter. World Asset Management Inc acquired a new position in shares of Visteon in the 3rd quarter valued at $220,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Visteon by 42.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,758 shares of the auto parts company’s stock valued at $220,000 after purchasing an additional 526 shares during the last quarter. Finally, Turner Investments LLC acquired a new position in shares of Visteon in the 3rd quarter valued at $248,000.
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Visteon Company Profile
Visteon Corporation is a global automotive supplier that designs, engineers and manufactures electronics products for original equipment vehicle manufacturer (OEM), including Ford, Mazda, Nissan/Renault, General Motors, Honda BMW and Daimler. The Company operates through Electronics segment. The Electronics segment provides vehicle cockpit electronics products to customers, including instrument clusters, information displays, infotainment, audio systems, telematics solutions and head up displays.
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