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

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

V2X Stock Performance

Shares of VVX traded up $6.14 during mid-day trading on Wednesday, hitting $68.82. 312,115 shares of the company’s stock were exchanged, compared to its average volume of 104,569. V2X has a fifty-two week low of $37.04 and a fifty-two week high of $69.27. The firm has a market capitalization of $2.15 billion, a P/E ratio of 223.87 and a beta of 0.57. The business’s 50 day moving average is $57.42 and its two-hundred day moving average is $51.79. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.15.

Wall Street Analyst Weigh In

A number of brokerages recently commented on VVX. Raymond James boosted their target price on shares of V2X from $60.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Tuesday. Robert W. Baird assumed coverage on shares of V2X in a research note on Friday, October 11th. They set an “outperform” rating and a $75.00 target price for the company. Royal Bank of Canada restated an “outperform” rating and issued a $70.00 price objective on shares of V2X in a research note on Tuesday. Baird R W upgraded shares of V2X to a “strong-buy” rating in a research note on Friday, October 11th. Finally, JMP Securities upped their price objective on shares of V2X from $65.00 to $80.00 and gave the company a “market outperform” rating in a research note on Tuesday. One research 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. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $70.60.

Insider Transactions at V2X

In other news, CEO Jeremy C. Wensinger acquired 6,250 shares of V2X stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $48.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,250 shares in the company, valued at approximately $300,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Jeremy C. Wensinger acquired 6,250 shares of V2X stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $48.00 per share, for a total transaction of $300,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,250 shares in the company, valued at approximately $300,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Shawn Mural acquired 937 shares of V2X stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $48.00 per share, with a total value of $44,976.00. Following the transaction, the chief financial officer now owns 1,437 shares of the company’s stock, valued at $68,976. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 11,936 shares of company stock worth $572,928. Company 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.