STMicroelectronics (NYSE:STM) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

STMicroelectronics (NYSE:STM) posted its quarterly earnings results on Thursday. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04, Briefing.com reports. The company had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.27 billion. STMicroelectronics had a net margin of 19.68% and a return on equity of 18.18%. The company’s quarterly revenue was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.16 earnings per share. STMicroelectronics updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

STMicroelectronics Price Performance

NYSE:STM traded down $0.46 during midday trading on Friday, hitting $26.68. The company had a trading volume of 6,813,271 shares, compared to its average volume of 3,951,737. The company has a market capitalization of $24.10 billion, a PE ratio of 8.28, a P/E/G ratio of 3.39 and a beta of 1.57. The company has a quick ratio of 2.56, a current ratio of 3.35 and a debt-to-equity ratio of 0.17. STMicroelectronics has a 52-week low of $26.44 and a 52-week high of $51.27. The stock’s fifty day moving average price is $28.76 and its 200-day moving average price is $35.49.

STMicroelectronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Tuesday, December 17th. STMicroelectronics’s dividend payout ratio is currently 9.63%.

Wall Street Analyst Weigh In

STM has been the topic of several recent research reports. Sanford C. Bernstein dropped their target price on STMicroelectronics from $54.00 to $41.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. StockNews.com cut STMicroelectronics from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Morgan Stanley lowered STMicroelectronics from an “overweight” rating to an “equal weight” rating in a report on Friday, July 26th. Craig Hallum lowered their price target on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Citigroup raised shares of STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, STMicroelectronics has a consensus rating of “Moderate Buy” and a consensus price target of $37.63.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.