V2X (NYSE:VVX) Releases Earnings Results, Beats Estimates By $0.22 EPS

V2X (NYSE:VVX) announced its quarterly earnings results on Monday. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.22, Briefing.com reports. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. V2X had a negative net margin of 0.30% and a positive return on equity of 11.69%. V2X’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.73 EPS. V2X updated its FY 2024 guidance to 3.950-4.200 EPS.

V2X Stock Performance

Shares of NYSE:VVX traded down $0.97 during midday trading on Tuesday, reaching $60.94. 168,866 shares of the company traded hands, compared to its average volume of 102,288. The firm’s fifty day moving average price is $57.29 and its two-hundred day moving average price is $51.69. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of -149.75 and a beta of 0.57. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.15. V2X has a 12 month low of $37.04 and a 12 month high of $66.00.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on VVX. Baird R W upgraded shares of V2X to a “strong-buy” rating in a report on Friday, October 11th. Robert W. Baird started coverage on shares of V2X in a research report on Friday, October 11th. They set an “outperform” rating and a $75.00 target price on the stock. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $70.00 target price on shares of V2X in a report on Tuesday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $65.20.

Insiders Place Their Bets

In related news, Director Eric M. Pillmore purchased 3,125 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $48.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 41,516 shares in the company, valued at approximately $1,992,768. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. In other V2X news, Director Eric M. Pillmore bought 3,125 shares of V2X stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $48.00 per share, for a total transaction of $150,000.00. Following the completion of the transaction, the director now directly owns 41,516 shares in the company, valued at $1,992,768. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO William Boyd Noon acquired 1,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $48.00 per share, with a total value of $48,000.00. Following the acquisition, the chief accounting officer now directly owns 10,931 shares of the company’s stock, valued at $524,688. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 11,936 shares of company stock worth $572,928 in the last quarter. 1.10% of the stock is owned by company insiders.

V2X Company Profile

V2X, Inc provides critical mission solutions and support services to defense clients worldwide. It offers a suite of integrated solutions across the operations and logistics, aerospace, training, and technology markets to national security, defense, civilian, and international clients. The company was incorporated in 2014 and is headquartered in Mclean, Virginia.