Visteon Corp (NYSE:VC) Expected to Post Quarterly Sales of $401.85 Million

Analysts expect that Visteon Corp (NYSE:VC) will report $401.85 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Visteon’s earnings. The lowest sales estimate is $367.64 million and the highest is $425.00 million. Visteon posted sales of $733.00 million during the same quarter last year, which would indicate a negative year over year growth rate of 45.2%. The firm is scheduled to issue its next earnings results on Thursday, July 23rd.

On average, analysts expect that Visteon will report full-year sales of $2.48 billion for the current fiscal year, with estimates ranging from $2.40 billion to $2.55 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.11 billion, with estimates ranging from $2.76 billion to $3.35 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Visteon.

Visteon (NYSE:VC) last posted its quarterly earnings data on Thursday, April 30th. The auto parts company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.43. The firm had revenue of $643.00 million for the quarter, compared to analyst estimates of $612.40 million. The business’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS.

VC has been the topic of several research analyst reports. Goldman Sachs Group began coverage on Visteon in a research note on Tuesday, April 14th. They issued a “sell” rating and a $41.00 price objective on the stock. Citigroup cut their target price on shares of Visteon from $66.00 to $48.00 and set a “neutral” rating for the company in a research note on Tuesday, March 24th. Zacks Investment Research upgraded Visteon from a “hold” rating to a “buy” rating and set a $83.00 price objective for the company in a report on Thursday, June 25th. Morgan Stanley dropped their price target on Visteon from $31.00 to $28.00 and set an “underweight” rating for the company in a report on Wednesday, June 24th. Finally, Deutsche Bank increased their price objective on Visteon from $55.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $72.08.

Shares of NYSE:VC traded up $3.07 during midday trading on Tuesday, hitting $70.11. The stock had a trading volume of 306,403 shares, compared to its average volume of 392,472. Visteon has a 12 month low of $38.69 and a 12 month high of $105.99. The business’s 50-day simple moving average is $71.49 and its 200-day simple moving average is $70.05.

A number of institutional investors have recently added to or reduced their stakes in the stock. NumerixS Investment Technologies Inc bought a new position in shares of Visteon in the fourth quarter worth approximately $52,000. Point72 Hong Kong Ltd purchased a new position in shares of Visteon in the fourth quarter valued at about $66,000. Nisa Investment Advisors LLC purchased a new position in shares of Visteon in the first quarter valued at about $76,000. Macquarie Group Ltd. bought a new position in shares of Visteon during the fourth quarter valued at about $78,000. Finally, US Bancorp DE boosted its holdings in shares of Visteon by 15.6% during the first quarter. US Bancorp DE now owns 1,812 shares of the auto parts company’s stock worth $87,000 after purchasing an additional 245 shares during the period.

About Visteon

Visteon Corporation engineers, designs, and manufactures cockpit electronics and connected car solutions for vehicle manufacturers worldwide. The company provides instrument clusters, including standard analog gauge clusters to high-resolution, all-digital, fully reconfigurable, 2-D, and 3-D display-based devices; information displays that integrate a range of user interface technologies and graphics management capabilities; and audio and infotainment systems that allows vehicle occupants to connect their mobile devices to the system and safely access phone functions, listen to music, stream media, and enable mobile connectivity applications.

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Earnings History and Estimates for Visteon (NYSE:VC)

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