VIZIO (NYSE:VZIO) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

VIZIO (NYSE:VZIO) released its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.07), Briefing.com reports. VIZIO had a net margin of 1.68% and a return on equity of 6.84%. The company had revenue of $353.90 million during the quarter, compared to analyst estimates of $373.95 million. The company’s revenue for the quarter was down .8% on a year-over-year basis.

VIZIO Price Performance

Shares of NYSE VZIO traded down $0.11 during trading hours on Thursday, hitting $10.37. 2,962,695 shares of the company’s stock were exchanged, compared to its average volume of 2,676,447. The company’s 50-day moving average price is $10.87 and its 200-day moving average price is $8.58. VIZIO has a 1-year low of $4.82 and a 1-year high of $11.28. The stock has a market capitalization of $2.05 billion, a price-to-earnings ratio of 69.47, a PEG ratio of 2.11 and a beta of 2.08.

Insider Buying and Selling at VIZIO

In related news, Director David Eugene Russell sold 300,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $9.91, for a total transaction of $2,973,000.00. Following the completion of the transaction, the director now directly owns 2,536,542 shares in the company, valued at approximately $25,137,131.22. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 45.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on VZIO. B. Riley downgraded VIZIO from a “buy” rating to a “neutral” rating and set a $11.50 price target on the stock. in a report on Tuesday, February 20th. Craig Hallum reissued a “hold” rating on shares of VIZIO in a research note on Wednesday, February 21st. TheStreet raised shares of VIZIO from a “d+” rating to a “c-” rating in a research report on Tuesday, February 20th. Barrington Research downgraded shares of VIZIO from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 20th. Finally, Needham & Company LLC restated a “hold” rating on shares of VIZIO in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating and ten have issued a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.77.

VIZIO Company Profile

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.