Veoneer Inc (NYSE:VNE) Given Consensus Recommendation of “Hold” by Brokerages

Veoneer Inc (NYSE:VNE) has received an average recommendation of “Hold” from the nine research firms that are currently covering the stock, MarketBeat.com reports. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.67.

A number of analysts recently issued reports on VNE shares. Mizuho reduced their price objective on Veoneer from $23.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, April 27th. Citigroup lifted their price objective on Veoneer from $7.00 to $9.00 and gave the company a “neutral” rating in a research report on Tuesday, April 28th. Barclays cut Veoneer from an “overweight” rating to an “equal weight” rating in a research report on Sunday, April 19th. Zacks Investment Research raised Veoneer from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Saturday. Finally, Kepler Capital Markets raised Veoneer to a “hold” rating and set a $9.00 price objective for the company in a research report on Monday, June 8th.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Credit Suisse AG raised its holdings in Veoneer by 3.6% during the fourth quarter. Credit Suisse AG now owns 2,292,067 shares of the company’s stock valued at $35,802,000 after buying an additional 79,298 shares in the last quarter. BlackRock Inc. raised its holdings in Veoneer by 0.9% during the first quarter. BlackRock Inc. now owns 2,143,701 shares of the company’s stock valued at $15,692,000 after buying an additional 18,296 shares in the last quarter. DNB Asset Management AS raised its holdings in Veoneer by 64.0% during the first quarter. DNB Asset Management AS now owns 1,774,728 shares of the company’s stock valued at $12,973,000 after buying an additional 692,612 shares in the last quarter. Norges Bank bought a new position in Veoneer during the fourth quarter valued at about $19,413,000. Finally, State Street Corp raised its holdings in Veoneer by 18.3% during the first quarter. State Street Corp now owns 417,799 shares of the company’s stock valued at $3,058,000 after buying an additional 64,513 shares in the last quarter. Institutional investors own 28.65% of the company’s stock.

Shares of Veoneer stock traded up $0.50 during midday trading on Friday, hitting $11.05. The company’s stock had a trading volume of 257,409 shares, compared to its average volume of 344,072. The firm has a market capitalization of $1.23 billion, a P/E ratio of -1.99 and a beta of 2.69. The stock has a 50-day simple moving average of $10.82 and a 200-day simple moving average of $11.39. The company has a quick ratio of 2.51, a current ratio of 2.78 and a debt-to-equity ratio of 0.13. Veoneer has a 1-year low of $5.25 and a 1-year high of $18.65.

Veoneer (NYSE:VNE) last issued its earnings results on Friday, April 24th. The company reported ($1.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.34) by ($0.15). The business had revenue of $362.00 million during the quarter, compared to analyst estimates of $359.00 million. Veoneer had a negative return on equity of 29.08% and a negative net margin of 33.63%. As a group, sell-side analysts predict that Veoneer will post -4.48 earnings per share for the current year.

Veoneer Company Profile

Veoneer, Inc designs, develops, manufactures, and sells automotive safety electronic products in Asia, the Americas, and Europe. It operates in two segments, Electronics and Brake Systems. The company provides automotive radars, night driving assist systems, positioning systems, advanced driver assistance systems (ADAS), night vision systems, brake control systems, electronic control units, active safety sensors, and controllers; mono-and stereo-vision cameras; and passive safety electronics, such as airbag control units and crash sensors.

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Analyst Recommendations for Veoneer (NYSE:VNE)

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