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

Resideo Technologies (NYSE:REZI) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 1.900-2.300 for the period, compared to the consensus estimate of 1.650. The company issued revenue guidance of $6.1 billion-$6.3 billion, compared to the consensus revenue estimate of $6.2 billion. Resideo Technologies also updated its Q2 2024 guidance to 0.430-0.530 EPS.

Analysts Set New Price Targets

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

Resideo Technologies Stock Performance

REZI traded up $0.25 on Monday, reaching $20.74. The stock had a trading volume of 292,732 shares, compared to its average volume of 927,503. Resideo Technologies has a 12-month low of $14.19 and a 12-month high of $23.21. The company has a current ratio of 1.93, a quick ratio of 1.26 and a debt-to-equity ratio of 0.50. The business’s 50-day moving average price is $21.51 and its two-hundred day moving average price is $18.77. The company has a market cap of $3.03 billion, a P/E ratio of 15.41 and a beta of 2.13.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Thursday, May 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.14. Resideo Technologies had a net margin of 3.17% and a return on equity of 9.26%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. Sell-side analysts forecast that Resideo Technologies will post 2.1 earnings per share 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.