uploads///vc pm

Visteon Announces Share Repurchase Program

By

Jan. 12 2017, Updated 9:08 a.m. ET

Price movement

Visteon Corporation (VC) has a market cap of $3.0 billion and rose 5.9% to close at $86.53 per share on January 10, 2017. The stock’s weekly, monthly, and YTD (year-to-date) price movements were 6.9%, 2.8%, and 7.7%, respectively, on the same day.

VC is now trading 5.4% above its 20-day moving average, 10.8% above its 50-day moving average, and 17.5% above its 200-day moving average.

Article continues below advertisement

Related ETF and peers

The Schwab US Mid-Cap ETF (SCHM) invests 0.10% of its holdings in Visteon. The YTD price movement of SCHM was 1.4% on January 10.

The market caps of Visteon’s competitors are as follows:

  • Delphi Automotive (DLPH): $19.2 billion
  • Lear (LEA): $10.0 billion
  • Harman International Industries (HAR): $7.7 billion

Latest news on VC

Visteon has announced a new share repurchase program of up to $400 million of its common stock through March 2018. This share repurchase program will be funded through cash on hand.

Article continues below advertisement

Visteon’s performance in 3Q16

Visteon reported 3Q16 sales of $770.0 million—a fall of 4.7% from its sales of $808.0 million in 3Q15. The company’s gross profit margin expanded 60 basis points in 3Q16 as compared to 3Q15.

Its net income and EPS (earnings per share) rose to $28.0 million and $0.81, respectively, in 3Q16, as compared to $5.0 million and $0.12, respectively, in 3Q15. It reported adjusted EPS of $1.10 in 3Q16—a rise of 96.4% over to 3Q15.

VC’s cash and equivalents and trade receivables fell 68.8% and 5.9%, respectively, between 3Q16 and 4Q15.

Projections

Visteon has made the following projections for fiscal 2016:

  • sales for the Electronics Product Group to reach $3.1 billion
  • adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) for the Electronics Product Group to be in the range of $325 million– $335 million
  • adjusted free cash flow for the Electronics Product Group to be in the range of $125 million–$150 million.

In the next and final part of this series, we’ll discuss International Paper (IP).

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.