Delphi Automotive PLC Coverage Initiated at Credit Suisse (DLPH)
Analysts at Credit Suisse assumed coverage on shares of Delphi Automotive PLC (NASDAQ:DLPH) in a research report issued to clients and investors on Wednesday, TheFlyOnTheWall.com reports. The firm set an “outperform” rating and a $83.00 price target on the stock. Credit Suisse’s price target indicates a potential upside of 21.72% from the stock’s previous close.
The analysts wrote, “be it the product portfolio or its geographic concentration, we think Delphi is well positioned to grow. In China, Delphi has one of the largest/most established footprints of all global suppliers. We expect DLPH to generate an incremental ~$1.5 bln in revs over the next 3 years, representing ~35% of total company growth. Meanwhile, on the product side, demand for its key powertrain products (i.e., GDI, Common Rail) will more than quadruple industry growth, with additional upside in active safety and Infotainment”
Delphi Automotive PLC (NASDAQ:DLPH) traded up 0.21% during mid-day trading on Wednesday, hitting $68.33. The stock had a trading volume of 53,747 shares. Delphi Automotive PLC has a one year low of $53.07 and a one year high of $71.27. The stock’s 50-day moving average is $68.62 and its 200-day moving average is $67.04. The company has a market cap of $20.474 billion and a P/E ratio of 16.49.
Delphi Automotive PLC (NASDAQ:DLPH) last released its earnings data on Thursday, July 31st. The company reported $1.42 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.33 by $0.09. The company had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.47 billion. During the same quarter last year, the company posted $1.24 earnings per share. Delphi Automotive PLC’s revenue was up 5.0% compared to the same quarter last year. Analysts expect that Delphi Automotive PLC will post $5.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 27th. Shareholders of record on Wednesday, August 13th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Monday, August 11th.
A number of other firms have also recently commented on DLPH. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Delphi Automotive PLC in a research note on Friday, August 1st. They now have a $90.00 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Delphi Automotive PLC from $83.00 to $87.00 in a research note on Friday, August 1st. Finally, analysts at Barclays reiterated an “overweight” rating on shares of Delphi Automotive PLC in a research note on Friday, August 1st. They now have a $87.00 price target on the stock, up previously from $85.00. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $80.11.
In other Delphi Automotive PLC news, Director Lawrence A. Zimmerman sold 1,650 shares of Delphi Automotive PLC stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $66.84, for a total value of $110,286.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Delphi Automotive PLC (NASDAQ:DLPH) is a global vehicle components manufacturer and provides electrical and electronic, powertrain, safety and thermal technology solutions to the global automotive and commercial vehicle markets.
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