Zacks: Analysts Expect Visteon Corp (NYSE:VC) Will Post Earnings of -$0.50 Per Share

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Equities research analysts expect Visteon Corp (NYSE:VC) to report earnings per share of ($0.50) for the current quarter, Zacks reports. Five analysts have made estimates for Visteon’s earnings, with the highest EPS estimate coming in at $0.51 and the lowest estimate coming in at ($1.20). Visteon posted earnings of $0.28 per share during the same quarter last year, which indicates a negative year over year growth rate of 278.6%. The business is expected to report its next quarterly earnings report on Thursday, July 23rd.

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

Visteon (NYSE:VC) last announced its quarterly earnings data on Thursday, April 30th. The auto parts company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.50) by $0.43. The firm had revenue of $643.00 million for the quarter, compared to the consensus estimate of $612.40 million. During the same quarter last year, the company posted $0.53 earnings per share. Visteon’s revenue for the quarter was down 12.8% compared to the same quarter last year.

VC has been the topic of a number of recent analyst reports. Royal Bank of Canada reiterated a “buy” rating and issued a $66.00 price objective on shares of Visteon in a research report on Wednesday, March 18th. JPMorgan Chase & Co. lifted their price objective on Visteon from $52.00 to $61.00 and gave the stock a “neutral” rating in a research report on Friday, June 19th. Goldman Sachs Group initiated coverage on Visteon in a research report on Tuesday, April 14th. They issued a “sell” rating and a $41.00 price objective on the stock. Morgan Stanley cut their price objective on Visteon from $31.00 to $28.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 24th. Finally, Zacks Investment Research upgraded Visteon from a “hold” rating to a “buy” rating and set a $83.00 price objective on the stock in a research report on Thursday, June 25th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $72.08.

Shares of VC stock opened at $65.44 on Friday. Visteon has a fifty-two week low of $38.69 and a fifty-two week high of $105.99. The business’s 50 day moving average price is $71.32 and its 200-day moving average price is $70.32.

A number of large investors have recently made changes to their positions in the business. State Street Corp raised its stake in Visteon by 4.1% during the first quarter. State Street Corp now owns 982,038 shares of the auto parts company’s stock valued at $47,118,000 after buying an additional 38,669 shares during the last quarter. New Mexico Educational Retirement Board raised its stake in Visteon by 36.7% during the first quarter. New Mexico Educational Retirement Board now owns 6,700 shares of the auto parts company’s stock valued at $321,000 after buying an additional 1,800 shares during the last quarter. State of Tennessee Treasury Department raised its stake in Visteon by 10.3% during the first quarter. State of Tennessee Treasury Department now owns 23,116 shares of the auto parts company’s stock valued at $1,109,000 after buying an additional 2,162 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in 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 valued at $2,735,000 after buying an additional 1,794 shares during the last quarter. Finally, Advisor Group Holdings Inc. purchased a new position in Visteon during the first quarter valued at $166,000.

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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