VIZIO (NYSE:VZIO) Announces Quarterly Earnings Results, Misses Estimates By $0.07 EPS

VIZIO (NYSE:VZIO) released its quarterly earnings data 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. The business had revenue of $353.90 million for the quarter, compared to analyst estimates of $373.95 million. VIZIO had a return on equity of 6.84% and a net margin of 1.68%. The firm’s quarterly revenue was down .8% on a year-over-year basis.

VIZIO Trading Down 0.6 %

Shares of NYSE VZIO traded down $0.06 on Thursday, reaching $10.42. 2,285,223 shares of the company traded hands, compared to its average volume of 2,673,429. The company has a 50 day moving average of $10.87 and a 200 day moving average of $8.58. VIZIO has a fifty-two week low of $4.82 and a fifty-two week high of $11.28. The stock has a market capitalization of $2.06 billion, a PE ratio of 69.87, a P/E/G ratio of 2.11 and a beta of 2.08.

Insider Activity

In related news, Director David Eugene Russell sold 300,000 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $9.91, for a total transaction of $2,973,000.00. Following the completion of the sale, the director now owns 2,536,542 shares of the company’s stock, valued at approximately $25,137,131.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 45.06% of the company’s stock.

Wall Street Analyst Weigh In

VZIO has been the topic of several recent analyst reports. Wells Fargo & Company reiterated an “equal weight” rating and issued a $11.50 price target (up from $10.00) on shares of VIZIO in a research note on Tuesday, February 27th. Barrington Research downgraded VIZIO from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 20th. Piper Sandler restated a “neutral” rating and issued a $11.50 price objective (down from $12.00) on shares of VIZIO in a research note on Wednesday, February 28th. Craig Hallum reissued a “hold” rating on shares of VIZIO in a report on Wednesday, February 21st. Finally, Roth Capital lowered shares of VIZIO from a “buy” rating to a “neutral” rating in a research note on Wednesday, February 21st. One analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $10.77.

VIZIO Company Profile

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.