Resideo Technologies (NYSE:REZI) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Resideo Technologies (NYSE:REZI) posted its earnings results on Tuesday. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.03, FiscalAI reports. Resideo Technologies had a negative net margin of 8.85% and a positive return on equity of 14.96%. The firm had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.89 billion.

Resideo Technologies Stock Up 3.6%

NYSE:REZI traded up $1.23 during mid-day trading on Tuesday, reaching $35.83. The company’s stock had a trading volume of 1,493,001 shares, compared to its average volume of 1,317,762. The firm has a market capitalization of $5.36 billion, a PE ratio of -7.66 and a beta of 1.73. The stock has a fifty day moving average of $35.89 and a 200-day moving average of $36.41. The company has a quick ratio of 1.07, a current ratio of 1.88 and a debt-to-equity ratio of 1.38. Resideo Technologies has a 1 year low of $14.18 and a 1 year high of $45.29.

Institutional Investors Weigh In On Resideo Technologies

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC boosted its stake in shares of Resideo Technologies by 283.8% in the third quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after buying an additional 420 shares during the last quarter. McMillan Office Inc. purchased a new stake in Resideo Technologies during the 4th quarter worth approximately $33,000. Kestra Advisory Services LLC acquired a new position in Resideo Technologies in the 4th quarter valued at $34,000. Employees Retirement System of Texas purchased a new position in shares of Resideo Technologies in the third quarter worth about $45,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Resideo Technologies in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Analyst Ratings Changes

REZI has been the topic of several recent research reports. Weiss Ratings restated a “sell (d+)” rating on shares of Resideo Technologies in a research report on Thursday, January 22nd. Zacks Research cut Resideo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen lowered shares of Resideo Technologies from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Resideo Technologies has a consensus rating of “Hold” and an average target price of $34.67.

About Resideo Technologies

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.