V2X (NYSE:VVX) Posts Quarterly Earnings Results, Beats Expectations By $0.22 EPS

by · The Markets Daily

V2X (NYSE:VVX – Get Free Report) issued its quarterly earnings data on Monday. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.22, Briefing.com reports. V2X had a return on equity of 13.52% and a net margin of 0.22%. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the firm posted $0.73 earnings per share. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. V2X updated its FY 2024 guidance to 3.950-4.200 EPS.

V2X Price Performance

Shares of NYSE:VVX traded down $1.72 during trading on Thursday, reaching $67.10. 38,829 shares of the company’s stock traded hands, compared to its average volume of 104,264. V2X has a fifty-two week low of $37.04 and a fifty-two week high of $69.27. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.15. The firm has a market cap of $2.12 billion, a PE ratio of 245.79 and a beta of 0.57. The company has a 50-day simple moving average of $57.67 and a 200-day simple moving average of $51.91.

Insider Buying and Selling

In related news, CEO Jeremy C. Wensinger bought 6,250 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $48.00 per share, for a total transaction of $300,000.00. Following the acquisition, the chief executive officer now directly owns 6,250 shares in the company, valued at approximately $300,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other V2X news, CAO William Boyd Noon purchased 1,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $48.00 per share, for a total transaction of $48,000.00. Following the completion of the purchase, the chief accounting officer now directly owns 10,931 shares in the company, valued at approximately $524,688. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jeremy C. Wensinger purchased 6,250 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $48.00 per share, with a total value of $300,000.00. Following the purchase, the chief executive officer now owns 6,250 shares of the company’s stock, valued at approximately $300,000. The disclosure for this purchase can be found here. In the last three months, insiders have bought 11,936 shares of company stock worth $572,928. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on VVX shares. Raymond James boosted their price target on V2X from $60.00 to $72.00 and gave the company a “strong-buy” rating in a report on Tuesday. JMP Securities upped their target price on V2X from $65.00 to $80.00 and gave the stock a “market outperform” rating in a report on Tuesday. Baird R W upgraded V2X to a “strong-buy” rating in a report on Friday, October 11th. Robert W. Baird began coverage on V2X in a research report on Friday, October 11th. They set an “outperform” rating and a $75.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $70.00 target price on shares of V2X in a research report on Tuesday. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, V2X currently has a consensus rating of “Buy” and an average target price of $70.60.

View Our Latest Stock Report on VVX

About V2X

(Get Free Report)

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.

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