Veoneer, Inc. (NYSE:VNE) Receives Consensus Recommendation of “Hold” from Brokerages

Veoneer, Inc. (NYSE:VNEGet Rating) has been given an average rating of “Hold” by the eleven brokerages that are covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $30.27.

Separately, Zacks Investment Research cut shares of Veoneer from a “buy” rating to a “hold” rating in a research report on Thursday, February 10th.

NYSE:VNE remained flat at $$36.95 during mid-day trading on Friday. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of -10.77 and a beta of 2.24. Veoneer has a 52-week low of $19.28 and a 52-week high of $40.46. The firm’s 50 day moving average is $35.88. The company has a current ratio of 1.67, a quick ratio of 1.33 and a debt-to-equity ratio of 0.26.

Veoneer (NYSE:VNEGet Rating) last issued its quarterly earnings results on Wednesday, February 2nd. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.02). The firm had revenue of $449.00 million for the quarter, compared to the consensus estimate of $470.33 million. Veoneer had a negative net margin of 23.17% and a negative return on equity of 38.99%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) earnings per share. As a group, equities analysts forecast that Veoneer will post -1.88 EPS for the current fiscal year.

In other news, CFO Raymond B. Pekar sold 1,076 shares of the company’s stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $35.30, for a total value of $37,982.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.24% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. First Trust Advisors LP raised its stake in shares of Veoneer by 14.0% during the 1st quarter. First Trust Advisors LP now owns 45,426 shares of the company’s stock worth $1,039,000 after acquiring an additional 5,577 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Veoneer during the 3rd quarter worth approximately $264,000. Versor Investments LP bought a new position in shares of Veoneer during the 3rd quarter worth approximately $16,473,000. Harvest Management LLC bought a new position in shares of Veoneer during the 3rd quarter worth approximately $2,384,000. Finally, Swiss National Bank raised its stake in shares of Veoneer by 0.3% during the 3rd quarter. Swiss National Bank now owns 234,600 shares of the company’s stock worth $7,990,000 after acquiring an additional 800 shares in the last quarter. 50.03% of the stock is owned by hedge funds and other institutional investors.

Veoneer Company Profile (Get Rating)

Veoneer, Inc engages in the design, development, manufacture, and sale of automotive safety electronics primarily in North America, Europe, and Asia. It offers mono-and stereo-vision cameras, night driving assist systems, advanced driver assist systems (ADAS), electronic control units, seat belt pre-tensioner electronic controllers, and ADAS software for highly automated driving (HAD) and autonomous driving (AD).

Further Reading

Analyst Recommendations for Veoneer (NYSE:VNE)

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