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 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.

Analyst Ratings Changes

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

Resideo Technologies Price Performance

Shares of NYSE:REZI traded up $2.26 on Friday, reaching $24.01. 2,082,378 shares of the company traded hands, compared to its average volume of 626,210. The stock has a market capitalization of $3.52 billion, a PE ratio of 21.63 and a beta of 2.09. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.81 and a quick ratio of 1.06. The company’s 50 day moving average is $19.95 and its 200-day moving average is $20.24. Resideo Technologies has a fifty-two week low of $15.44 and a fifty-two week high of $24.09.

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

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.