Autoliv, Inc. (ALV) Shares Down 7.9% Following Weak Earnings
Autoliv, Inc. (NYSE:ALV) shares fell 7.9% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $105.15 and last traded at $106.78, with a volume of 2,393,346 shares. The stock had previously closed at $115.89.
The auto parts company reported $1.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.48 by $0.04. Autoliv had a return on equity of 14.78% and a net margin of 5.60%. The business had revenue of $2.55 billion during the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm posted $1.75 EPS. The company’s revenue was down 1.3% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Wednesday, August 23rd will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Monday, August 21st. Autoliv’s dividend payout ratio (DPR) is 36.75%.
Several research firms recently commented on ALV. Mizuho upgraded Autoliv from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $108.00 to $130.00 in a research note on Monday. Royal Bank Of Canada reiterated a “hold” rating and issued a $98.00 price target on shares of Autoliv in a research note on Thursday, July 6th. BidaskClub upgraded Autoliv from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $119.00 price target on shares of Autoliv in a research note on Friday, June 16th. Finally, Guggenheim began coverage on Autoliv in a research note on Wednesday, June 21st. They issued a “neutral” rating and a $102.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $106.92.
In other news, Director Robert W. Alspaugh sold 1,156 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $109.87, for a total transaction of $127,009.72. Following the completion of the transaction, the director now directly owns 3,800 shares of the company’s stock, valued at $417,506. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Svante Mogefors sold 6,738 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $102.46, for a total value of $690,375.48. Following the transaction, the vice president now directly owns 17,269 shares of the company’s stock, valued at $1,769,381.74. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of ALV. Toronto Dominion Bank raised its position in Autoliv by 26.9% in the first quarter. Toronto Dominion Bank now owns 971 shares of the auto parts company’s stock valued at $100,000 after buying an additional 206 shares during the period. Creative Planning raised its position in Autoliv by 0.3% in the first quarter. Creative Planning now owns 1,220 shares of the auto parts company’s stock valued at $125,000 after buying an additional 4 shares during the period. Pacer Advisors Inc. raised its position in Autoliv by 3.2% in the first quarter. Pacer Advisors Inc. now owns 1,799 shares of the auto parts company’s stock valued at $184,000 after buying an additional 55 shares during the period. IHT Wealth Management LLC raised its position in Autoliv by 34.8% in the first quarter. IHT Wealth Management LLC now owns 1,937 shares of the auto parts company’s stock valued at $188,000 after buying an additional 500 shares during the period. Finally, Global X Management Co. LLC raised its position in Autoliv by 31.6% in the first quarter. Global X Management Co. LLC now owns 2,030 shares of the auto parts company’s stock valued at $208,000 after buying an additional 488 shares during the period. 32.16% of the stock is owned by institutional investors.
The company has a market capitalization of $9.43 billion, a P/E ratio of 16.35 and a beta of 1.14. The company’s 50-day moving average is $112.68 and its 200-day moving average is $107.14.
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Autoliv, Inc is a supplier of automotive safety systems with a range of product offerings, including passive safety systems and active safety systems. The Company operates through two segments: Passive Safety and Electronics. The Passive safety products include modules and components for passenger and driver-side airbags, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies, whiplash protection systems and child seats, and components for such systems, as well as passive safety electronic products, such as restraint electronics and crash sensors.
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