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

Resideo Technologies (NYSE:REZI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.180-2.280 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE:REZI traded down $0.18 during trading hours on Thursday, hitting $21.72. 889,295 shares of the company’s stock traded hands, compared to its average volume of 851,057. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.81. The company has a market cap of $3.18 billion, a price-to-earnings ratio of 18.43 and a beta of 2.09. The company’s fifty day simple moving average is $19.84 and its two-hundred day simple moving average is $20.19. Resideo Technologies has a 52 week low of $15.44 and a 52 week high of $23.43.

Resideo Technologies (NYSE:REZI) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.20. The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.53 billion. Resideo Technologies had a return on equity of 10.32% and a net margin of 2.85%. The firm’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, equities analysts anticipate that Resideo Technologies will post 1.92 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Evercore ISI assumed coverage on Resideo Technologies in a research note 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.