Brokerages Anticipate Visteon Corp (NYSE:VC) Will Post Quarterly Sales of $749.39 Million

Equities analysts forecast that Visteon Corp (NYSE:VC) will post sales of $749.39 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Visteon’s earnings. The lowest sales estimate is $732.57 million and the highest is $759.00 million. Visteon posted sales of $731.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 2.5%. The company is expected to announce its next quarterly earnings report on Thursday, February 20th.

According to Zacks, analysts expect that Visteon will report full year sales of $2.95 billion for the current fiscal year, with estimates ranging from $2.93 billion to $2.96 billion. For the next fiscal year, analysts expect that the firm will post sales of $3.21 billion, with estimates ranging from $3.13 billion to $3.26 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Visteon.

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Visteon (NYSE:VC) last released its quarterly earnings data on Thursday, October 24th. The auto parts company reported $0.53 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The business had revenue of $731.00 million during the quarter, compared to the consensus estimate of $700.44 million. The business’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS.

VC has been the subject of a number of recent analyst reports. Citigroup set a $86.00 price objective on Visteon and gave the stock a “hold” rating in a research note on Friday, September 13th. Royal Bank of Canada raised Visteon from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $90.00 to $106.00 in a research note on Friday, December 20th. Wolfe Research raised Visteon from a “peer perform” rating to an “outperform” rating and set a $100.00 price target for the company in a research note on Friday, November 22nd. UBS Group lowered Visteon from a “neutral” rating to a “sell” rating and dropped their price target for the company from $66.00 to $61.00 in a research note on Thursday, September 12th. Finally, Barclays reissued an “equal weight” rating and set a $82.00 price target (up from $60.00) on shares of Visteon in a research note on Friday, October 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $80.23.

In other Visteon news, VP Brett D. Pynnonen sold 4,451 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $95.87, for a total transaction of $426,717.37. Following the sale, the vice president now directly owns 2,840 shares in the company, valued at $272,270.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Sunil K. Bilolikar sold 1,870 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $97.27, for a total value of $181,894.90. Following the sale, the senior vice president now owns 1,874 shares in the company, valued at $182,283.98. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of VC. Cerebellum GP LLC purchased a new stake in Visteon during the third quarter valued at approximately $77,000. Quadrant Capital Group LLC raised its position in Visteon by 107.2% during the third quarter. Quadrant Capital Group LLC now owns 1,177 shares of the auto parts company’s stock valued at $95,000 after purchasing an additional 609 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of Visteon in the second quarter worth approximately $138,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Visteon by 21.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,651 shares of the auto parts company’s stock worth $155,000 after buying an additional 476 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Visteon by 14.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,972 shares of the auto parts company’s stock worth $163,000 after buying an additional 252 shares during the period.

Shares of NYSE VC traded down $2.53 during mid-day trading on Monday, reaching $86.33. The company’s stock had a trading volume of 259,200 shares, compared to its average volume of 344,700. The stock has a fifty day moving average of $90.74 and a two-hundred day moving average of $76.88. Visteon has a 52 week low of $44.04 and a 52 week high of $105.99.

Visteon Company Profile

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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