SmartRent (SMRT) Set to Announce Earnings on Wednesday

SmartRent (NYSE:SMRT) will announce its earnings results before the market opens on Wednesday, August 7th. Analysts expect the company to announce earnings of ($0.03) per share for the quarter. SmartRent has set its Q2 2024 guidance at EPS and its FY 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

SmartRent (NYSE:SMRT) last posted its earnings results on Wednesday, May 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.02). The firm had revenue of $50.49 million for the quarter, compared to analyst estimates of $51.43 million. SmartRent had a negative return on equity of 7.28% and a negative net margin of 13.08%. On average, analysts expect SmartRent to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

SmartRent Price Performance

SMRT stock opened at $1.65 on Tuesday. The firm has a market capitalization of $332.01 million, a P/E ratio of -11.33 and a beta of 1.98. The business’s 50-day moving average is $2.34 and its two-hundred day moving average is $2.58. SmartRent has a 1 year low of $1.56 and a 1 year high of $3.84.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SMRT. DA Davidson lowered SmartRent from a “buy” rating to a “neutral” rating and cut their target price for the stock from $3.25 to $2.00 in a research report on Wednesday, July 31st. BTIG Research cut SmartRent from a “buy” rating to a “neutral” rating in a report on Friday. Finally, Colliers Securities cut SmartRent from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $3.64.

About SmartRent

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.