Resideo Technologies (NYSE:REZI) Issues 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 Trading Up 10.4 %

REZI 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’s fifty day moving average price is $19.95 and its 200-day moving average price is $20.24. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.81. Resideo Technologies has a fifty-two week low of $15.44 and a fifty-two week high of $24.09. The firm has a market capitalization of $3.52 billion, a PE ratio of 21.63 and a beta of 2.09.

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

Wall Street Analyst Weigh In

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

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.