2024-05-04 00:25:31 ET
Summary
- APTV achieved a +16.0% earnings beat for Q1 2024, on the back of a +2.0 percentage points expansion in its recent quarterly operating margin.
- Aptiv's updated share repurchase goal of $1.5 billion for the current year implies that the stock is now offering an appealing 2024 buyback yield at the high-single digit percentage level.
- My bullish view of APTV is supported by the company's above-expectations first quarter EPS and the new 2024 buyback target.
Elevator Pitch
I have a Buy investment rating for Aptiv PLC ( APTV ) shares. My prior article written on November 18, 2023 drew attention to the United Auto Workers strike's effects and the company's profitability outlook....
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For further details see:
Aptiv: Earnings Beat And New Buyback Target Support My Buy Rating