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

Resideo Technologies (NYSE:REZI) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.180-2.280 for the period, compared to the consensus EPS estimate of 2.270. The company issued revenue guidance of $6.7 billion-$6.8 billion, compared to the consensus revenue estimate of $6.7 billion. Resideo Technologies also updated its Q4 guidance to $0.51-0.61 EPS.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI assumed coverage on shares of Resideo Technologies in a research note on Friday, August 9th. They set an “outperform” rating and a $25.00 price objective on the stock.

Resideo Technologies Stock Performance

NYSE:REZI traded up $2.26 during midday trading on Friday, reaching $24.01. 2,082,378 shares of the company traded hands, compared to its average volume of 626,210. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 21.63 and a beta of 2.09. The company has a fifty day moving average price of $19.95 and a 200 day moving average price of $20.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.81 and a quick ratio of 1.06. Resideo Technologies has a twelve month low of $15.44 and a twelve month high of $24.09.

Resideo Technologies (NYSE:REZI) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.20. The company had revenue of $1.59 billion during the quarter, compared to the consensus estimate of $1.53 billion. Resideo Technologies had a net margin of 2.72% and a return on equity of 11.07%. The company’s revenue for the quarter was down .8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, analysts expect that Resideo Technologies will post 1.92 EPS for the current fiscal 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.