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

Resideo Technologies (NYSE:REZI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.180-2.280 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

Separately, Evercore ISI began coverage on shares of Resideo Technologies in a research note on Friday, August 9th. They set an “outperform” rating and a $25.00 price target on the stock.

Resideo Technologies Trading Up 10.4 %

Shares of Resideo Technologies stock traded up $2.26 during trading hours on Friday, hitting $24.01. The company’s stock had a trading volume of 2,082,378 shares, compared to its average volume of 626,210. Resideo Technologies has a 1-year low of $15.44 and a 1-year high of $24.09. The business has a fifty day moving average of $19.95 and a 200 day moving average of $20.24. The company 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 (NYSE:REZI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.20. Resideo Technologies had a net margin of 2.72% and a return on equity of 11.07%. The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.53 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The business’s quarterly revenue was down .8% compared to the same quarter last year. As a group, equities analysts forecast that Resideo Technologies will post 1.92 EPS for the current year.

About Resideo Technologies

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.