Resideo Technologies (NYSE:REZI) Issues FY 2024 Earnings Guidance

Resideo Technologies (NYSE:REZI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.180-2.280 for the period, compared to the consensus EPS estimate of 2.270. The company issued revenue guidance of $6.7 billion-$6.8 billion, compared to the consensus revenue estimate of $6.7 billion. Resideo Technologies also updated its Q4 guidance to $0.51-0.61 EPS.

Resideo Technologies Price Performance

Shares of NYSE:REZI traded up $2.26 during trading on Friday, reaching $24.01. 2,082,378 shares of the company traded hands, compared to its average volume of 626,210. The company’s 50 day moving average is $19.95 and its two-hundred day moving average is $20.24. The firm has a market capitalization of $3.52 billion, a PE ratio of 21.63 and a beta of 2.09. The company has a quick ratio of 1.06, a current ratio of 1.81 and a debt-to-equity ratio of 0.70. Resideo Technologies has a 52 week low of $15.44 and a 52 week high of $24.09.

Resideo Technologies (NYSE:REZI) last released its earnings results on Thursday, August 8th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.20. The firm had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. Resideo Technologies had a return on equity of 11.07% and a net margin of 2.72%. The company’s revenue was down .8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS. As a group, sell-side analysts predict that Resideo Technologies will post 1.92 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Evercore ISI initiated coverage on Resideo Technologies in a research report on Friday, August 9th. They set an “outperform” rating and a $25.00 target price for the company.

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.