VIZIO (NYSE:VZIO) Issues Earnings Results, Misses Estimates By $0.07 EPS

VIZIO (NYSE:VZIO) released its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.07), Briefing.com reports. The firm had revenue of $353.90 million for the quarter, compared to analysts’ expectations of $373.95 million. VIZIO had a net margin of 1.68% and a return on equity of 6.84%. The business’s revenue was down .8% on a year-over-year basis.

VIZIO Price Performance

VZIO stock traded down $0.06 during mid-day trading on Thursday, reaching $10.42. The company had a trading volume of 2,285,223 shares, compared to its average volume of 2,673,429. The firm has a 50 day moving average of $10.87 and a 200 day moving average of $8.58. VIZIO has a 12 month low of $4.82 and a 12 month high of $11.28. The company has a market capitalization of $2.06 billion, a PE ratio of 69.87, a price-to-earnings-growth ratio of 2.11 and a beta of 2.08.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barrington Research cut shares of VIZIO from an “outperform” rating to a “market perform” rating in a research note on Tuesday, February 20th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $11.50 price objective (up from $10.00) on shares of VIZIO in a research note on Tuesday, February 27th. TheStreet raised VIZIO from a “d+” rating to a “c-” rating in a research report on Tuesday, February 20th. Piper Sandler restated a “neutral” rating and issued a $11.50 price target (down from $12.00) on shares of VIZIO in a research report on Wednesday, February 28th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of VIZIO in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $10.77.

Insider Activity

In other news, Director David Eugene Russell sold 300,000 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $9.91, for a total transaction of $2,973,000.00. Following the transaction, the director now owns 2,536,542 shares of the company’s stock, valued at approximately $25,137,131.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 45.06% of the company’s stock.

VIZIO Company Profile

VIZIO Holding Corp., through its subsidiaries, provides smart televisions, sound bars, and accessories in the United States. It also operates Platform+ that comprises SmartCast, a Smart TV operating system, enabling integrated entertainment solution, and data intelligence and services products through Inscape.