Resideo Technologies (NYSE:REZI) Updates FY24 Earnings Guidance

Resideo Technologies (NYSE:REZI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.90-$2.30 for the period, compared to the consensus estimate of $1.66. The company issued revenue guidance of $6.08-$6.28 billion, compared to the consensus revenue estimate of $6.16 billion. Resideo Technologies also updated its Q2 guidance to $0.43-$0.53 EPS.

Analyst Upgrades and Downgrades

Separately, TheStreet upgraded shares of Resideo Technologies from a c+ rating to a b- rating in a report on Wednesday, February 28th.

Resideo Technologies Stock Up 2.3 %

Resideo Technologies stock traded up $0.44 during midday trading on Thursday, hitting $19.73. 999,288 shares of the company were exchanged, compared to its average volume of 932,365. The company has a market cap of $2.88 billion, a PE ratio of 13.61 and a beta of 2.13. Resideo Technologies has a fifty-two week low of $14.19 and a fifty-two week high of $23.21. The company’s fifty day moving average price is $21.57 and its 200-day moving average price is $18.68. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.18.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.14. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.52 billion. Resideo Technologies had a net margin of 3.36% and a return on equity of 8.99%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.26 earnings per share. On average, research analysts predict that Resideo Technologies will post 1.65 EPS for the current fiscal year.

Resideo Technologies Company Profile

Resideo Technologies, Inc develops, manufactures, and sells comfort, energy management, and safety and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and ADI Global Distribution.