Resideo Technologies Inc (NYSE:REZI) – Equities research analysts at Imperial Capital lowered their Q2 2019 earnings per share estimates for Resideo Technologies in a report released on Wednesday, June 12th. Imperial Capital analyst J. Kessler now anticipates that the company will post earnings per share of $0.19 for the quarter, down from their prior estimate of $0.28. Imperial Capital currently has a “Outperform” rating and a $26.00 price target on the stock. Imperial Capital also issued estimates for Resideo Technologies’ Q3 2019 earnings at $0.31 EPS, Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $1.31 EPS, Q1 2020 earnings at $0.19 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.43 EPS, Q4 2020 earnings at $0.62 EPS, FY2020 earnings at $1.47 EPS, FY2021 earnings at $1.67 EPS, FY2022 earnings at $1.89 EPS and FY2023 earnings at $2.12 EPS.
Resideo Technologies (NYSE:REZI) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.04. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion.
Several other research firms have also recently weighed in on REZI. Zacks Investment Research raised Resideo Technologies from a “sell” rating to a “hold” rating in a report on Tuesday, February 19th. Oppenheimer set a $30.00 price target on Resideo Technologies and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Bank of America reaffirmed a “buy” rating and issued a $24.00 price target (down previously from $28.00) on shares of Resideo Technologies in a report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $25.50.
NYSE:REZI opened at $20.78 on Thursday. Resideo Technologies has a twelve month low of $17.60 and a twelve month high of $28.67. The stock has a market capitalization of $2.60 billion and a price-to-earnings ratio of 8.41. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.74 and a current ratio of 1.19.
In other news, insider Michael G. Nefkens acquired 4,964 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were bought at an average cost of $20.26 per share, with a total value of $100,570.64. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Joseph Douglas Ragan III acquired 6,300 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were purchased at an average cost of $20.05 per share, for a total transaction of $126,315.00. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 20,114 shares of company stock worth $407,558. 0.09% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in REZI. FMR LLC increased its stake in Resideo Technologies by 8.4% in the 1st quarter. FMR LLC now owns 4,627,312 shares of the company’s stock worth $89,261,000 after purchasing an additional 356,787 shares during the period. Bluefin Trading LLC bought a new stake in shares of Resideo Technologies in the 1st quarter worth approximately $193,000. HighTower Advisors LLC grew its position in shares of Resideo Technologies by 11.0% in the 1st quarter. HighTower Advisors LLC now owns 20,989 shares of the company’s stock worth $388,000 after buying an additional 2,079 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Resideo Technologies in the 1st quarter worth approximately $24,577,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of Resideo Technologies in the 1st quarter worth approximately $934,000. 74.67% of the stock is currently owned by institutional investors.
About Resideo Technologies
Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.
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