Resideo Technologies (NYSE:REZI) Issues Q2 Earnings Guidance

Resideo Technologies (NYSE:REZI) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.43-$0.53 for the period, compared to the consensus estimate of $0.42. The company issued revenue guidance of $1.51-$1.56 billion, compared to the consensus revenue estimate of $1.58 billion. Resideo Technologies also updated its FY24 guidance to $1.90-$2.30 EPS.

Wall Street Analyst Weigh In

Separately, TheStreet upgraded shares of Resideo Technologies from a c+ rating to a b- rating in a report on Wednesday, February 28th.

Resideo Technologies Trading Up 2.3 %

REZI stock traded up $0.44 during trading on Thursday, reaching $19.73. The company had a trading volume of 999,288 shares, compared to its average volume of 932,365. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.18. Resideo Technologies has a 52 week low of $14.19 and a 52 week high of $23.21. The business has a 50 day moving average of $21.57 and a 200 day moving average of $18.68. The company has a market cap of $2.88 billion, a P/E ratio of 13.61 and a beta of 2.13.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Tuesday, February 13th. The company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.14. Resideo Technologies had a return on equity of 8.99% and a net margin of 3.36%. The firm had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company earned $0.26 EPS. The business’s revenue was down 1.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Resideo Technologies will post 1.65 earnings per share for the current fiscal year.

Resideo Technologies Company Profile

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.