Veoneer Inc: AI Stock Could Rally 62%...& That's Just to Start

Veoneer 公司: AI 股票可能上涨62%。。。那就开始了

2019-12-30 21:20:18 PROFIT

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In my final editorial for the year, I dove into the trash heap face first and came up with a beaten-up vehicle artificial intelligence stock out of Sweden, the home of ABBA, the famous pop band from the 1970s. Veoneer Inc (NYSE:VNE) develops advanced driver-assistance systems (ADAS) and autonomous driving (AD) solutions for vehicle manufacturers. VNE stock once traded as high as $57.93 in September 2018. But the company has seen its market cap steadily erode from $6.5 billion to the current $1.8 billion. At its current level, VNE stock is worth a look for risk capital after selling off 32% this year. Veoneer Inc develops software, hardware and systems for active safety, autonomous driving, occupant protection, and brake control. We’re talking about technologies such as vision systems, radar, LiDAR (light detection and ranging), night vision, electronic controls, and human-machine interfaces. The chart of Veoneer stock is nasty, with a breakdown from the January highs followed by a bearish downside gap in April. VNE stock is drifting in a sideways channel between $14.00 and $18.00. A breakout could see VNE stock recover its gap at around $26.00, representing a move of about 62%. Chart courtesy of StockCharts.com VNE stock has technical support at around $14.00, while the immediate upside target is the previous sideways channel bouncing between $22.50 and $32.50. The selling in Veoneer stock is supported by operational issues at the company that need to be resolved. If VNE can improve its results, the market would likely reward the stock with a rally. But it won’t be easy. Revenues edged higher in two of the past three years, but they’re expected to contract 14.4% to $1.8 billion in 2019. (Source: “Veoneer Inc.” MarketWatch, last accessed December 19, 2019.) There is some optimism, as Veoneer is expected to grow its revenues 7.6% to $2.05 billion in 2020. (Source: “Veoneer, Inc. (VNE),” Yahoo! Finance, last accessed December 19, 2019.) Earnings before interest, taxes, depreciation, and amortization (EBITDA) was positive from 2015 to 2017, before moving to negative in 2018. (Source: MarketWatch, op. cit.) Veoneer is also losing money; it’s years away from actually becoming profitable. (Source: MarketWatch, op. cit.) The adjusted loss is estimated to rise to $5.13 per diluted share in 2019, compared to $2.91 in 2018. Veoneer is expected to narrow the loss to $3.83 per diluted share (or as low as $2.61) in 2020. (Source: Yahoo! Finance, op. cit.) Veoneer is also dealing with negative free cash flow (FCF), which surged in 2018. Given the losses and expected revenue contraction in 2019, VNE will likely struggle with its FCF. (Source: MarketWatch, op. cit.) A positive amid the operational issues is the strong cash balance of $1.1 billion and the debt of $326.0 million. The healthy balance sheet will allow time for Veoneer to sort things out. (Source: Yahoo! Finance, op. cit.) The road will not be easy for Veoneer Inc, but I like the business going forward. I believe VNE stock could rally if the company can turn things around. And while it loses money, VNE does trade at a reasonable 0.92 times trailing sales and 1.0 times book value.
在我这一年的最后一篇社论中,我先是走进垃圾堆,然后拿出一支被殴打的汽车人工智能股票从瑞典出来。瑞典是 ABBA 的家,是20世纪70年代著名的流行乐队。 Veoneer 公司( NYSE : VNE )为汽车制造商开发先进的驾驶员辅助系统( ADAS )和自动驾驶( AD )解决方案。 VNE 股票曾在2018年9月交易高达57.93美元。但该公司的市值已从65亿美元稳步缩水至目前的18亿美元。 在当前水平上, VNE 股票今年下跌了32%,值得寻找风险资本。 Veoneer 公司开发用于主动安全、自动驾驶、乘员保护和制动控制的软件、硬件和系统。 我们讨论的技术包括视觉系统、雷达、激光雷达(光探测和测距)、夜视、电子控制和人机界面。 Veoneer 股票的图表很糟糕,从1月份的高点下跌,随后在4月份出现了下跌缺口。 VNE 股票在14.00美元到18.00美元之间的横向通道中漂移。突破可能会使 VNE 股票收复约26.00美元的缺口,涨幅约62%。 股票图表的礼节.com VNXe 股票的技术支持价格约为14.00美元,而直接的上行目标是此前在22.50美元至32.50美元之间的横向渠道波动。 Veoneer 股票的销售得到了需要解决的公司运营问题的支持。如果 VNE 能够改善其业绩,市场可能会以上涨来回报股票。但这并不容易。 过去三年中的两年,收入略有增长,但预计2019年收入将下降14.4%,至18亿美元。 (来源: MarketWatch ,最后一次访问是2019年12月19日。) 由于 Veoneer 预计在2020年将收入增长7.6%至20.5亿美元,因此存在一些乐观情绪。(资料来源:“ Veoneer 等人( VNE ),”雅虎!财务,最后一次访问2019年12月19日。(二) 2015年至2017年息税折旧摊销前利润( EBITDA )为正数,2018年转为负数。 (来源: MarketWatch , op.cit ) Veoneer 也在赔钱,要数年后才能真正盈利。 (来源: MarketWatch , op.cit ) 经调整后的亏损估计将于二零一九年上升至每股摊薄股份5.13美元,而二零一八年则为2.91美元。Veoneer 预计在2020年将亏损收窄至摊薄后每股3.83美元(或低至2.61美元)。(来源: Yahoo ! Finance , op.cit ) Veoneer 还在处理2018年激增的负自由现金流( FCF )。考虑到2019年的亏损和预期收入收缩, VNE 可能会与其 FCF 竞争。 (来源: MarketWatch , op.cit ) 业务问题中的一个积极因素是11亿美元的强劲现金余额和3.26亿美元的债务。健康的资产负债表将让 Veoneer 有时间对事情进行整理。(来源: Yahoo ! Finance , op.cit ) 对 Veoneer 公司来说,这条路并不容易,但我喜欢业务的发展。我相信,如果能扭转局面, VNE 股价可能会上涨。 虽然它亏损了,但 VNE 的交易价格却相当于过去销售额的0.92倍和账面价值的1.0倍。

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