ADT (NYSE:ADT) Updates FY24 Earnings Guidance

ADT (NYSE:ADT) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $0.70-0.75 for the period, compared to the consensus EPS estimate of $0.68. The company issued revenue guidance of $4.85-4.95 billion, compared to the consensus revenue estimate of $4.89 billion. ADT also updated its FY 2024 guidance to 0.700-0.750 EPS.

ADT Price Performance

NYSE:ADT traded up $1.22 during trading hours on Thursday, reaching $8.14. The company had a trading volume of 29,081,157 shares, compared to its average volume of 5,052,315. The firm has a market capitalization of $7.51 billion, a PE ratio of 11.63 and a beta of 1.53. The stock has a 50-day moving average of $7.18 and a two-hundred day moving average of $7.15. ADT has a one year low of $5.53 and a one year high of $8.25. The company has a quick ratio of 0.59, a current ratio of 0.75 and a debt-to-equity ratio of 1.98.

ADT (NYSE:ADT) last announced its earnings results on Thursday, August 1st. The security and automation business reported $0.17 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.17. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. ADT had a net margin of 13.83% and a return on equity of 15.45%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.15 EPS. Analysts forecast that ADT will post 0.62 earnings per share for the current year.

ADT Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Investors of record on Friday, September 13th were issued a dividend of $0.055 per share. The ex-dividend date was Friday, September 13th. This represents a $0.22 dividend on an annualized basis and a yield of 2.70%. ADT’s dividend payout ratio is 31.43%.

Analysts Set New Price Targets

Separately, Royal Bank of Canada lowered their target price on ADT from $10.00 to $8.00 and set a “sector perform” rating for the company in a research note on Friday, August 2nd.

About ADT

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.