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

V2X (NYSE:VVX - Get Free Report) issued its earnings results on Monday. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.22, Briefing.com reports. V2X had a negative net margin of 0.30% and a positive return on equity of 11.69%. 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 prior year, the firm earned $0.73 EPS. V2X's quarterly revenue was up 8.0% compared to the same quarter last year. V2X updated its FY 2024 guidance to 3.950-4.200 EPS.

V2X Stock Performance

NYSE:VVX traded up $0.77 during trading hours on Tuesday, reaching $62.68. The company had a trading volume of 449,450 shares, compared to its average volume of 103,599. The firm has a market cap of $1.95 billion, a PE ratio of -152.28 and a beta of 0.57. V2X has a 1-year low of $37.04 and a 1-year high of $66.00. The business's 50 day moving average price is $57.29 and its 200-day moving average price is $51.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.10 and a quick ratio of 1.10.

Analyst Ratings Changes

A number of brokerages have issued reports on VVX. JMP Securities increased their target price on shares of V2X from $65.00 to $80.00 and gave the stock a "market outperform" rating in a research report on Tuesday. Baird R W upgraded shares of V2X to a "strong-buy" rating in a report on Friday, October 11th. Raymond James raised their price target on shares of V2X from $60.00 to $72.00 and gave the company a "strong-buy" rating in a research report on Tuesday. Robert W. Baird started coverage on shares of V2X in a research report on Friday, October 11th. They issued an "outperform" rating and a $75.00 price objective on the stock. 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 analyst has rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $70.60.

Insiders Place Their Bets

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

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.