Visteon Corp (NYSE:VC) – Equities researchers at B. Riley dropped their FY2017 EPS estimates for Visteon in a note issued to investors on Thursday. B. Riley analyst C. Horn now forecasts that the auto parts company will post earnings per share of $6.19 for the year, down from their previous estimate of $6.20. B. Riley has a “Buy” rating and a $162.00 price target on the stock.
Visteon (NYSE:VC) last issued its quarterly earnings data on Thursday, October 26th. The auto parts company reported $1.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.17. The company had revenue of $765.00 million during the quarter, compared to analysts’ expectations of $761.95 million. Visteon had a return on equity of 29.13% and a net margin of 4.83%. The business’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.10 earnings per share.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research raised Visteon from a “hold” rating to a “buy” rating and set a $141.00 price objective for the company in a report on Tuesday, October 31st. Citigroup lifted their price objective on Visteon from $113.00 to $126.00 and gave the company a “neutral” rating in a report on Monday, October 30th. Barclays set a $107.00 price objective on Visteon and gave the company a “hold” rating in a report on Friday, October 20th. FBR & Co lifted their price objective on Visteon from $120.00 to $140.00 and gave the company a “buy” rating in a report on Friday, October 27th. Finally, BMO Capital Markets raised Visteon from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $104.00 to $115.00 in a report on Friday, September 22nd. Six investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $132.31.
Visteon (NYSE:VC) opened at $138.03 on Friday. The stock has a market capitalization of $4,290.00, a price-to-earnings ratio of 26.39, a price-to-earnings-growth ratio of 1.34 and a beta of 0.86. Visteon has a twelve month low of $86.10 and a twelve month high of $140.64. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.76 and a current ratio of 1.97.
In related news, CEO Sachin Lawande sold 2,500 shares of Visteon stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $130.00, for a total value of $325,000.00. Following the completion of the sale, the chief executive officer now directly owns 8,595 shares in the company, valued at $1,117,350. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold 17,004 shares of company stock valued at $2,180,621 over the last ninety days. 0.19% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in VC. Janus Henderson Group PLC acquired a new stake in Visteon in the second quarter worth about $78,611,000. Bank of New York Mellon Corp increased its position in Visteon by 34.8% in the third quarter. Bank of New York Mellon Corp now owns 1,804,109 shares of the auto parts company’s stock worth $223,294,000 after purchasing an additional 465,508 shares during the period. Ameriprise Financial Inc. increased its position in Visteon by 182.1% in the second quarter. Ameriprise Financial Inc. now owns 252,028 shares of the auto parts company’s stock worth $25,721,000 after purchasing an additional 162,689 shares during the period. Old Mutual Global Investors UK Ltd. increased its position in Visteon by 155.0% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 171,611 shares of the auto parts company’s stock worth $21,240,000 after purchasing an additional 104,302 shares during the period. Finally, Davidson Kempner Capital Management LP acquired a new stake in Visteon in the second quarter worth about $10,206,000.
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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