Universal Electronics (NASDAQ:UEIC) Updates Q4 2024 Earnings Guidance

Universal Electronics (NASDAQ:UEIC) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.100-0.200 for the period, compared to the consensus EPS estimate of 0.150. The company issued revenue guidance of $99.0 million-$109.0 million, compared to the consensus revenue estimate of $99.9 million.

Universal Electronics Trading Up 31.7 %

Shares of Universal Electronics stock traded up $2.67 during trading hours on Friday, reaching $11.09. 191,945 shares of the company’s stock were exchanged, compared to its average volume of 51,339. The company has a fifty day moving average of $8.60 and a 200-day moving average of $10.27. Universal Electronics has a 52-week low of $7.17 and a 52-week high of $14.20. The firm has a market capitalization of $143.95 million, a price-to-earnings ratio of -5.41 and a beta of 1.13.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The company had revenue of $90.45 million for the quarter, compared to analyst estimates of $94.86 million. Universal Electronics had a negative return on equity of 8.50% and a negative net margin of 6.96%. On average, equities research analysts anticipate that Universal Electronics will post -0.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

UEIC has been the subject of a number of analyst reports. Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price target for the company in a research report on Friday. StockNews.com raised Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, September 19th.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.