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.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wells Fargo & Company cut their price target on Aptiv from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Monday, December 16th. Morgan Stanley lowered their target price on Aptiv from $68.00 to $60.00 and set an “underweight” rating for the company in a report on Thursday, November 14th. Fox Advisors downgraded Aptiv from an “overweight” rating to an “equal weight” rating in a research report on Tuesday, October 1st. Guggenheim restated a “buy” rating and issued a $73.00 target price on shares of Aptiv in a research report on Thursday, December 5th. Finally, Robert W. Baird increased their price objective on Aptiv from $70.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.71.

Aptiv Stock Performance

Shares of Aptiv stock opened at $62.75 on Thursday. The company has a 50 day moving average of $58.19 and a 200-day moving average of $64.84. The company has a market cap 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. The company has a current ratio of 1.50, a quick ratio of 1.06 and a debt-to-equity ratio of 0.91.

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

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.