Aptiv (NYSE:APTV) Updates FY 2024 Earnings Guidance

Aptiv (NYSE:APTV) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 6.000-6.300 for the period, compared to the consensus earnings per share estimate of 6.140. The company issued revenue guidance of $19.6 billion-$19.9 billion, compared to the consensus revenue estimate of $19.7 billion. Aptiv also updated its FY24 guidance to $6.00-6.30 EPS.

Aptiv Stock Performance

Aptiv stock opened at $62.75 on Thursday. The firm’s 50 day simple moving average is $58.19 and its 200 day simple moving average is $64.84. The company has a current ratio of 1.50, a quick ratio of 1.06 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $14.75 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 0.55 and a beta of 1.75. Aptiv has a 1-year low of $51.47 and a 1-year high of $88.89.

Aptiv (NYSE:APTV) last posted its quarterly earnings results on Thursday, October 31st. The auto parts company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.15. Aptiv had a net margin of 12.29% and a return on equity of 14.51%. The company had revenue of $4.85 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the business posted $1.30 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. As a group, analysts expect that Aptiv will post 6.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

APTV has been the subject of several research reports. Oppenheimer decreased their price target on shares of Aptiv from $147.00 to $83.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. TD Cowen dropped their price target on shares of Aptiv from $95.00 to $74.00 and set a “buy” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Aptiv from $107.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Fox Advisors downgraded shares of Aptiv from an “overweight” rating to an “equal weight” rating in a report on Tuesday, October 1st. Finally, Bank of America decreased their target price on shares of Aptiv from $105.00 to $102.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Aptiv presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.71.

About Aptiv

Aptiv PLC engages in design, manufacture, and sale of vehicle components in North America, Europe, Middle East, Africa, the Asia Pacific, South America, and internationally. The company provides electrical, electronic, and safety technology solutions to the automotive and commercial vehicle markets. It operates through two segments, Signal and Power Solutions, and Advanced Safety and User Experience.