Equities research analysts forecast that Visteon Corp (NYSE:VC) will post $718.10 million in sales for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Visteon’s earnings, with estimates ranging from $697.00 million to $736.00 million. Visteon reported sales of $797.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 9.9%. The firm is expected to report its next quarterly earnings report before the market opens on Thursday, February 21st.
According to Zacks, analysts expect that Visteon will report full-year sales of $2.97 billion for the current financial year, with estimates ranging from $2.95 billion to $2.99 billion. For the next financial year, analysts expect that the company will report sales of $2.92 billion, with estimates ranging from $2.80 billion to $3.07 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Visteon.
Visteon (NYSE:VC) last announced its quarterly earnings data on Thursday, February 21st. The auto parts company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.46. The company had revenue of $731.00 million for the quarter, compared to analyst estimates of $721.02 million. The business’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 earnings per share.
VC has been the subject of several recent analyst reports. Robert W. Baird cut Visteon from an “outperform” rating to a “neutral” rating in a research note on Friday, January 4th. Morgan Stanley set a $70.00 target price on Visteon and gave the stock a “sell” rating in a research note on Wednesday, November 14th. 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. Jefferies Financial Group initiated coverage on Visteon in a research note on Tuesday, December 4th. They set an “underperform” rating and a $69.00 target price for the company. Finally, Barclays set a $59.00 target price on Visteon and gave the stock a “hold” rating in a research note on Friday, January 4th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $118.31.
VC stock traded up $7.21 during trading on Thursday, hitting $90.07. 994,080 shares of the company’s stock were exchanged, compared to its average volume of 614,831. Visteon has a 52-week low of $56.59 and a 52-week high of $139.45.
In other news, Director Rouzbeh Yassini-Fard acquired 2,000 shares of Visteon stock in a transaction on Wednesday, November 28th. The stock was bought at an average price of $75.57 per share, for a total transaction of $151,140.00. Following the completion of the purchase, the director now owns 2,000 shares in the company, valued at $151,140. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Comerica Bank increased its holdings in shares of Visteon by 1.0% in the fourth quarter. Comerica Bank now owns 19,721 shares of the auto parts company’s stock valued at $1,484,000 after purchasing an additional 202 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Visteon by 4.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,457 shares of the auto parts company’s stock valued at $450,000 after purchasing an additional 327 shares during the period. Texas Permanent School Fund increased its holdings in shares of Visteon by 2.4% in the fourth quarter. Texas Permanent School Fund now owns 18,918 shares of the auto parts company’s stock valued at $1,140,000 after purchasing an additional 441 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of Visteon by 13.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 5,151 shares of the auto parts company’s stock valued at $311,000 after purchasing an additional 600 shares during the period. Finally, Pearl River Capital LLC acquired a new position in shares of Visteon in the fourth quarter valued at approximately $36,000.
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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