VIZIO (NYSE:VZIO – Get Rating) posted its quarterly earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06), MarketWatch Earnings reports. VIZIO had a negative net margin of 1.85% and a negative return on equity of 12.52%. The firm had revenue of $485.50 million during the quarter, compared to the consensus estimate of $453.29 million. During the same quarter in the previous year, the firm posted $0.02 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis.
Shares of VZIO stock opened at $8.40 on Friday. The business has a fifty day moving average of $8.35 and a 200 day moving average of $14.10. VIZIO has a 1 year low of $6.62 and a 1 year high of $28.24.
Several brokerages have weighed in on VZIO. Piper Sandler lowered their target price on VIZIO from $21.00 to $15.00 in a report on Friday. Zacks Investment Research raised shares of VIZIO from a “sell” rating to a “hold” rating in a research report on Friday, March 4th. Craig Hallum lowered their target price on VIZIO from $20.00 to $13.00 in a report on Wednesday, April 20th. Guggenheim cut their price target on VIZIO from $24.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, April 21st. Finally, Needham & Company LLC dropped their price objective on VIZIO from $20.00 to $16.00 and set a “buy” rating on the stock in a research report on Friday, March 4th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, VIZIO has an average rating of “Buy” and an average price target of $18.43.
Several institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp grew its position in VIZIO by 141.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 116,825 shares of the company’s stock worth $2,483,000 after purchasing an additional 68,499 shares during the period. Morgan Stanley lifted its holdings in VIZIO by 273.4% in the third quarter. Morgan Stanley now owns 97,813 shares of the company’s stock valued at $2,078,000 after acquiring an additional 71,615 shares during the period. Millennium Management LLC purchased a new stake in VIZIO in the 3rd quarter worth approximately $2,050,000. Bank of America Corp DE grew its stake in shares of VIZIO by 1,562.0% during the 4th quarter. Bank of America Corp DE now owns 85,558 shares of the company’s stock worth $1,663,000 after purchasing an additional 80,410 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of VIZIO by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 184,140 shares of the company’s stock valued at $1,638,000 after purchasing an additional 4,468 shares in the last quarter. 23.19% of the stock is owned by hedge funds and other institutional investors.
VIZIO Company Profile (Get Rating)
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 home entertainment solution, and data intelligence and services products through Inscape.
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