Resideo Technologies (NYSE:REZI) Issues FY24 Earnings Guidance

Resideo Technologies (NYSE:REZI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $1.90-$2.30 for the period, compared to the consensus earnings per share estimate of $1.66. The company issued revenue guidance of $6.08-$6.28 billion, compared to the consensus revenue estimate of $6.16 billion. Resideo Technologies also updated its Q2 guidance to $0.43-$0.53 EPS.

Resideo Technologies Trading Up 3.9 %

Shares of REZI traded up $0.76 on Friday, hitting $20.49. 1,152,301 shares of the stock traded hands, compared to its average volume of 783,672. The firm has a market capitalization of $2.99 billion, a P/E ratio of 15.41 and a beta of 2.13. The company has a quick ratio of 1.18, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. Resideo Technologies has a 1 year low of $14.19 and a 1 year high of $23.21. The stock’s 50 day moving average is $21.51 and its two-hundred day moving average is $18.77.

Resideo Technologies (NYSE:REZI) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Resideo Technologies had a return on equity of 9.33% and a net margin of 3.17%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.39 EPS. As a group, sell-side analysts predict that Resideo Technologies will post 2.1 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.