Visteon Corp (NYSE:VC) – B. Riley cut their Q2 2019 earnings per share (EPS) estimates for Visteon in a report issued on Friday, February 22nd. B. Riley analyst C. Horn now forecasts that the auto parts company will post earnings of $1.20 per share for the quarter, down from their prior estimate of $1.35. B. Riley also issued estimates for Visteon’s Q1 2020 earnings at $1.65 EPS, Q2 2020 earnings at $1.55 EPS, Q3 2020 earnings at $1.37 EPS, Q4 2020 earnings at $1.89 EPS and FY2020 earnings at $6.46 EPS.
Get Visteon alerts:Visteon (NYSE:VC) last posted its earnings results on Thursday, February 21st. The auto parts company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.03 by $0.49. The business had revenue of $731.00 million for the quarter, compared to analysts’ expectations of $721.02 million. Visteon’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 EPS.
Other equities research analysts have also recently issued research reports about the company. Robert W. Baird cut Visteon from an “outperform” rating to a “neutral” rating in a research note on Friday, January 4th. Longbow Research set a $110.00 target price on Visteon and gave the stock a “buy” rating in a research note on Friday. Goldman Sachs Group cut Visteon from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $83.00 to $63.00 in a research note on Monday, December 10th. Barclays set a $59.00 target price on Visteon and gave the stock a “hold” rating in a research note on Friday, January 4th. Finally, Deutsche Bank began coverage on Visteon in a research note on Thursday, December 13th. They set a “hold” rating for the company. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Visteon presently has a consensus rating of “Hold” and an average price target of $113.20.
VC stock opened at $89.10 on Monday. Visteon has a fifty-two week low of $56.59 and a fifty-two week high of $139.45.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VC. BlackRock Inc. increased its position in Visteon by 103.6% during the third quarter. BlackRock Inc. now owns 2,655,521 shares of the auto parts company’s stock worth $246,698,000 after buying an additional 1,351,525 shares during the period. Bank of New York Mellon Corp increased its position in Visteon by 22.2% during the second quarter. Bank of New York Mellon Corp now owns 2,476,560 shares of the auto parts company’s stock worth $320,071,000 after buying an additional 449,197 shares during the period. Janus Henderson Group PLC increased its position in Visteon by 18.2% during the third quarter. Janus Henderson Group PLC now owns 2,209,500 shares of the auto parts company’s stock worth $205,263,000 after buying an additional 340,608 shares during the period. Royce & Associates LP increased its position in Visteon by 37,554.1% during the fourth quarter. Royce & Associates LP now owns 222,912 shares of the auto parts company’s stock worth $13,437,000 after buying an additional 222,320 shares during the period. Finally, Marathon Asset Management LLP acquired a new position in shares of Visteon in the fourth quarter valued at approximately $12,819,000.
In other news, Director Rouzbeh Yassini-Fard purchased 2,000 shares of the business’s stock in a transaction on Wednesday, November 28th. The shares were bought at an average price of $75.57 per share, with a total value of $151,140.00. Following the completion of the transaction, the director now directly owns 2,000 shares in the company, valued at approximately $151,140. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.19% of the company’s stock.
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.
Further Reading: Understanding Price to Earnings Ratio (PE)
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