STMicroelectronics (NYSE:STM) Posts Earnings Results, Misses Estimates By $0.05 EPS

STMicroelectronics (NYSE:STM) announced its quarterly earnings results on Thursday. The semiconductor producer reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.05), Briefing.com reports. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.61 billion. During the same period in the prior year, the business earned $1.10 EPS. The company’s revenue for the quarter was down 18.4% compared to the same quarter last year. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

STMicroelectronics Trading Down 3.0 %

STM stock traded down $1.27 during mid-day trading on Friday, reaching $41.33. The company’s stock had a trading volume of 3,775,949 shares, compared to its average volume of 3,636,699. The company has a market cap of $37.31 billion, a price-to-earnings ratio of 9.30, a price-to-earnings-growth ratio of 2.82 and a beta of 1.69. STMicroelectronics has a 12 month low of $37.21 and a 12 month high of $55.85. The company has a current ratio of 3.17, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16. The business’s 50 day moving average price is $43.83 and its 200 day moving average price is $44.58.

STMicroelectronics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Tuesday, June 25th will be paid a $0.09 dividend. This is a positive change from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Tuesday, June 25th. STMicroelectronics’s payout ratio is currently 4.48%.

Wall Street Analysts Forecast Growth

STM has been the subject of a number of research analyst reports. HSBC started coverage on STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating for the company. Craig Hallum dropped their target price on shares of STMicroelectronics from $50.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, January 25th. Berenberg Bank raised shares of STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday. William Blair reissued a “market perform” rating on shares of STMicroelectronics in a research note on Friday. Finally, StockNews.com cut shares of STMicroelectronics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $50.75.

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.