Visteon (NASDAQ:VC) Sets New 1-Year Low After Earnings Miss

Visteon Co. (NASDAQ:VC)’s share price hit a new 52-week low during mid-day trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $105.38 and last traded at $105.51, with a volume of 320282 shares trading hands. The stock had previously closed at $111.14.

The company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($0.14). The company had revenue of $933.00 million during the quarter, compared to analyst estimates of $971.45 million. Visteon had a net margin of 12.60% and a return on equity of 53.49%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.25 EPS.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on VC shares. Guggenheim lowered their price target on shares of Visteon from $136.00 to $126.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Barclays upgraded shares of Visteon from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $140.00 to $145.00 in a research report on Wednesday, April 10th. JPMorgan Chase & Co. lowered their price target on shares of Visteon from $146.00 to $145.00 and set a “neutral” rating on the stock in a research report on Monday, April 22nd. Wolfe Research restated a “peer perform” rating on shares of Visteon in a research report on Thursday, January 4th. Finally, UBS Group upgraded shares of Visteon from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $143.00 to $145.00 in a research report on Wednesday, January 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.36.

Institutional Investors Weigh In On Visteon

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System raised its stake in shares of Visteon by 15.7% in the 1st quarter. New York State Teachers Retirement System now owns 20,436 shares of the company’s stock valued at $2,403,000 after acquiring an additional 2,768 shares during the period. Simplicity Wealth LLC purchased a new stake in shares of Visteon in the 1st quarter valued at approximately $309,000. Assenagon Asset Management S.A. increased its stake in Visteon by 404.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 405,280 shares of the company’s stock worth $47,665,000 after buying an additional 324,946 shares during the period. Louisiana State Employees Retirement System increased its stake in Visteon by 2.6% during the 1st quarter. Louisiana State Employees Retirement System now owns 8,000 shares of the company’s stock worth $941,000 after buying an additional 200 shares during the period. Finally, Fifth Third Bancorp increased its stake in Visteon by 4.9% during the 1st quarter. Fifth Third Bancorp now owns 2,697 shares of the company’s stock worth $317,000 after buying an additional 127 shares during the period. 99.71% of the stock is owned by hedge funds and other institutional investors.

Visteon Stock Performance

The firm’s 50 day moving average is $113.58 and its two-hundred day moving average is $118.46. The stock has a market capitalization of $3.08 billion, a PE ratio of 6.41, a P/E/G ratio of 0.49 and a beta of 1.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.42 and a current ratio of 1.74.

Visteon Company Profile

Visteon Corporation, an automotive technology company, designs, manufactures, and sells automotive electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including analog gauge clusters for 2-D and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities, such as active privacy, TrueColor enhancement, local dimming, cameras, optics, haptic feedback, and light effects; and infotainment and connected car solutions, including scalable Android infotainment for seamless connectivity, as well as onboard artificial intelligence-based voice assistants with natural language understanding.