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What to Anticipate in Aptiv’s Upcoming Earnings Release

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Aptiv PLC Set to Release Q3 Earnings: Analysts Predict Strong Growth Ahead

With a market cap of $19.1 billion, Aptiv PLC (APTV) plays a significant role in the automotive technology industry. The company, based in Dublin, Ireland, designs essential vehicle components and offers advanced electrical, electronic, safety, and autonomous driving solutions to leading automotive manufacturers around the globe. Aptiv is poised to announce its Q3 earnings on Thursday, Oct. 31, before the market opens.

Strong Expectations for Profit Growth

Analysts predict that the auto parts supplier will report a profit of $1.69 per share, reflecting a 30% increase from last year’s $1.30 per share in the same quarter. Aptiv has a consistent track record of outperforming Wall Street’s EPS estimates, having exceeded projections in every quarter over the last year. In the most recent quarter, APTV achieved an adjusted EPS of $1.58, surpassing expectations by 15.3%.

A Bright Future: EPS Projections

For the fiscal year 2024, analysts anticipate APTV will post an EPS of $6.26, which marks an increase of 28.8% from $4.86 in fiscal 2023. Looking further ahead, for fiscal 2025, EPS is expected to grow by 25.2% year-over-year to reach $7.84.

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Current Stock Performance

Aptiv’s stock has experienced a decrease of 21.6% year-to-date, lagging behind the S&P 500 Index’s 22.5% gains and the Consumer Discretionary Select Sector SPDR Fund’s (XLY) 11.2% returns in the same period.

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Market Reaction and Analyst Ratings

Despite reporting Q2 revenue that fell short of expectations at $5.1 billion, Aptiv’s shares surged 5.4% on August 1. The increase followed the company’s impressive adjusted EPS results, attributed to heightened demand for its advanced driving technologies and automotive parts. Additionally, Aptiv announced a new $5 billion share repurchase program, which included an immediate $3 billion buyback, further boosting investor confidence.

The overall sentiment among analysts regarding Aptiv stock is cautiously optimistic, reflected in a “Moderate Buy” rating. Among the 21 analysts scrutinizing the stock, 14 recommend “Strong Buy,” two favor “Moderate Buy,” three suggest “Hold,” and two advise a “Strong Sell.” Notably, this outlook is slightly more positive than three months earlier, when only 13 analysts advocated a “Strong Buy.”

Currently, the average target price for APTV stock is set at $92.09, signaling a potential upside of 30.9% from present levels.

More Stock Market News from Barchart

On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information, please view the Barchart Disclosure Policy here.

The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.

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