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

Resideo Technologies (NYSE:REZI) issued an update on its FY 2024 earnings guidance on Thursday morning. 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.

Resideo Technologies Stock Performance

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

Resideo Technologies (NYSE:REZI) last posted its earnings results on Thursday, August 8th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.20. The business had revenue of $1.59 billion for the quarter, compared to analyst estimates of $1.53 billion. Resideo Technologies had a return on equity of 11.07% and a net margin of 2.72%. The firm’s revenue was down .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.34 EPS. As a group, sell-side analysts anticipate that Resideo Technologies will post 1.92 EPS for the current year.

Wall Street Analyst Weigh In

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

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.