Aptiv (NYSE:APTV) Updates FY24 Earnings Guidance

Aptiv (NYSE:APTV) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $6.00-6.30 for the period, compared to the consensus EPS estimate of $6.16. The company issued revenue guidance of $19.6-19.9 billion, compared to the consensus revenue estimate of $19.69 billion. Aptiv also updated its FY 2024 guidance to 6.000-6.300 EPS.

Aptiv Trading Up 1.6 %

Shares of Aptiv stock opened at $62.75 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.06 and a current ratio of 1.50. Aptiv has a 52-week low of $51.47 and a 52-week high of $88.89. The firm has a 50-day moving average of $58.19 and a 200-day moving average of $64.84. The stock has a market cap of $14.75 billion, a PE ratio of 7.00, a PEG ratio of 0.55 and a beta of 1.75.

Aptiv (NYSE:APTV) last released its earnings results on Thursday, October 31st. The auto parts company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.15. Aptiv had a return on equity of 14.51% and a net margin of 12.29%. The company had revenue of $4.85 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the firm posted $1.30 EPS. Aptiv’s quarterly revenue was down 5.1% on a year-over-year basis. As a group, sell-side analysts forecast that Aptiv will post 6.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Piper Sandler upgraded shares of Aptiv from an “underweight” rating to a “neutral” rating and raised their price target for the company from $53.00 to $65.00 in a research note on Thursday. Morgan Stanley cut their target price on shares of Aptiv from $68.00 to $60.00 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. Wells Fargo & Company lowered their price target on shares of Aptiv from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, December 16th. StockNews.com assumed coverage on Aptiv in a report on Wednesday. They set a “hold” rating on the stock. Finally, Guggenheim reaffirmed a “buy” rating and issued a $73.00 target price on shares of Aptiv in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, Aptiv has a consensus rating of “Moderate Buy” and a consensus price target of $84.71.

About Aptiv

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.