Wedbush Issues Negative Forecast for VinFast Auto Earnings

VinFast Auto Ltd. (NASDAQ:VFS) – Analysts at Wedbush reduced their Q3 2024 earnings per share (EPS) estimates for VinFast Auto in a report released on Thursday, November 21st. Wedbush analyst D. Ives now forecasts that the company will earn ($0.26) per share for the quarter, down from their prior forecast of ($0.24). The consensus estimate for VinFast Auto’s current full-year earnings is ($1.13) per share. Wedbush also issued estimates for VinFast Auto’s FY2024 earnings at ($1.09) EPS, Q1 2025 earnings at ($0.22) EPS, Q2 2025 earnings at ($0.20) EPS, Q3 2025 earnings at ($0.19) EPS, Q4 2025 earnings at ($0.18) EPS and FY2025 earnings at ($0.80) EPS.

VinFast Auto (NASDAQ:VFS) last announced its quarterly earnings data on Friday, September 20th. The company reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.09). The company had revenue of $357.39 million during the quarter, compared to analysts’ expectations of $583.76 million.

Separately, Cantor Fitzgerald reiterated an “overweight” rating and set a $6.00 target price on shares of VinFast Auto in a research report on Monday, September 30th.

VinFast Auto Stock Performance

VFS opened at $3.95 on Monday. The business’s fifty day moving average is $3.86 and its two-hundred day moving average is $4.06. The company has a market cap of $83.46 million, a price-to-earnings ratio of -3.46 and a beta of 0.90. VinFast Auto has a one year low of $2.26 and a one year high of $9.30.

Institutional Trading of VinFast Auto

Several institutional investors and hedge funds have recently made changes to their positions in VFS. Tidal Investments LLC lifted its position in shares of VinFast Auto by 18.7% in the first quarter. Tidal Investments LLC now owns 153,560 shares of the company’s stock valued at $763,000 after acquiring an additional 24,235 shares in the last quarter. GSA Capital Partners LLP acquired a new position in VinFast Auto in the third quarter valued at $44,000. Finally, XTX Topco Ltd acquired a new position in VinFast Auto in the third quarter valued at $48,000.

About VinFast Auto

VinFast Auto Ltd. engages in the design and manufacture of electric vehicles (EV), e-scooters, and e-buses in Vietnam, Canada, and the United States. The company operates through three segments: Automobiles, E-scooter, and Spare Parts & Aftermarket Services. The Automobiles segment offers design, development, manufacturing, and sale of cars and electric buses, and related battery lease and battery charging services for electric cars and buses.