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

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

V2X Trading Down 1.5 %

V2X stock traded down $0.92 during midday trading on Tuesday, reaching $60.99. The stock had a trading volume of 175,310 shares, compared to its average volume of 102,318. The stock’s 50-day simple moving average is $57.29 and its 200 day simple moving average is $51.69. V2X has a twelve month low of $37.04 and a twelve month high of $66.00. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $1.90 billion, a PE ratio of -149.75 and a beta of 0.57.

Analyst Ratings Changes

A number of research analysts have weighed in on VVX shares. Robert W. Baird initiated coverage on V2X in a research note on Friday, October 11th. They set an “outperform” rating and a $75.00 price target on the stock. Baird R W raised V2X to a “strong-buy” rating in a research note on Friday, October 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $70.00 price objective on shares of V2X in a research note on Tuesday. One research analyst has rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $65.20.

Insiders Place Their Bets

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