Shares of Delphi Automotive (DLPH) were down mid-morning despite posting a 2016 second quarter earnings beat before Wednesday’s market open. The company said it had a profit of $1.59 Earnings per Share for the quarter.
Advertisement
If we have a peek on EPS and surprise factor history during last four quarters, for the previous quarter ended on 3/2016, the consensus mean EPS was $1.37 while the company reported $1.36 EPS on 5/4/2016 BMO with a difference of 0.02 marking a surprise factor of 1.49%.
Adjusted net income increased to $435 million from $386 million a year ago. Current revenue movements show that, the company has set average revenue estimates of 4.22B covering forecast of 14 analysts.
The global vehicle components supplier earned $1.59 per share in the second quarter, excluding special items, compared with analysts’ estimates of $1.55 per share, according to a poll by Thomson Reuters I/B/E/S. Revenue of $4.21 billion was up 9 percent and near expectations of $4.22 billion. Its outlook for 2016 adjusted earnings per share is now $5.95 to $6.05, from $5.80 to $6.10, given three months ago. Piper Jaffray Cos. started coverage on shares of Delphi Automotive PLC in a report on Thursday, June 9th.
Share prices can move sharply, up or down, depending on earnings results. Finally, Bank of America Corp. reiterated a “buy” rating on shares of Delphi Automotive PLC in a report on Thursday, April 14th.
TheStreet Ratings rated this stock as a “buy” with a ratings score of B. The company presently has a consensus rating of “Buy” and an average target price of $89.28.
In other Delphi Automotive PLC news, EVP James A. Spencer sold 56,493 shares of the firm’s stock in a transaction that occurred on Thursday, June 23rd. On Mar 16, 2016, David M Sherbin (SVP, GC & Secretary) sold 19,726 shares at $70.06 per share price, according to the Form-4 filing with the securities and exchange commission. Following the transaction, the executive vice president now owns 141,011 shares in the company, valued at $9,882,050.88.
Delphi Automotive PLC is a vehicle components manufacturer.
Advertisement
In the Powertrain Systems segment, revenues dropped 2% to $1.12 billion. The Company provides electrical and electronic, powertrain and safety solutions to the automotive and commercial vehicle markets.
