Zacks: Brokerages Anticipate Visteon Corp (NYSE:VC) to Announce -$2.25 EPS

Analysts forecast that Visteon Corp (NYSE:VC) will report ($2.25) earnings per share for the current quarter, Zacks reports. Five analysts have made estimates for Visteon’s earnings, with the highest EPS estimate coming in at ($1.80) and the lowest estimate coming in at ($3.36). Visteon reported earnings per share of $0.28 during the same quarter last year, which suggests a negative year-over-year growth rate of 903.6%. The firm is scheduled to report its next quarterly earnings results on Thursday, July 23rd.

On average, analysts expect that Visteon will report full year earnings of ($0.17) per share for the current financial year, with EPS estimates ranging from ($1.05) to $0.81. For the next financial year, analysts forecast that the firm will post earnings of $3.64 per share, with EPS estimates ranging from $2.08 to $5.71. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Visteon.

Visteon (NYSE:VC) last issued its quarterly earnings results on Thursday, April 30th. The auto parts company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.43. The business had revenue of $643.00 million for the quarter, compared to the consensus estimate of $612.40 million. Visteon’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 earnings per share.

VC has been the subject of several analyst reports. Royal Bank of Canada reissued a “buy” rating and issued a $66.00 target price on shares of Visteon in a research note on Wednesday, March 18th. Goldman Sachs Group started coverage on shares of Visteon in a research report on Tuesday, April 14th. They set a “sell” rating and a $41.00 price objective for the company. Deutsche Bank boosted their price target on Visteon from $55.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, May 4th. JPMorgan Chase & Co. boosted their target price on shares of Visteon from $52.00 to $61.00 and gave the company a “neutral” rating in a research report on Friday, June 19th. Finally, Morgan Stanley dropped their price objective on shares of Visteon from $31.00 to $28.00 and set an “underweight” rating for the company in a research note on Wednesday, June 24th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. Visteon currently has a consensus rating of “Hold” and a consensus price target of $72.08.

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in shares of Visteon by 4.1% during the 1st quarter. State Street Corp now owns 982,038 shares of the auto parts company’s stock worth $47,118,000 after buying an additional 38,669 shares in the last quarter. New Mexico Educational Retirement Board raised its holdings in shares of Visteon by 36.7% in the 1st quarter. New Mexico Educational Retirement Board now owns 6,700 shares of the auto parts company’s stock valued at $321,000 after acquiring an additional 1,800 shares in the last quarter. State of Tennessee Treasury Department boosted its position in shares of Visteon by 10.3% during the 1st quarter. State of Tennessee Treasury Department now owns 23,116 shares of the auto parts company’s stock valued at $1,109,000 after acquiring an additional 2,162 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Visteon by 3.3% during the first quarter. The Manufacturers Life Insurance Company now owns 56,993 shares of the auto parts company’s stock worth $2,735,000 after purchasing an additional 1,794 shares in the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in Visteon in the first quarter valued at approximately $166,000.

Shares of NYSE:VC traded up $3.07 during midday trading on Friday, 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.

Visteon Company Profile

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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