B. Riley Equities Analysts Lower Earnings Estimates for Universal Electronics Inc. (UEIC)
Universal Electronics Inc. (NASDAQ:UEIC) – Investment analysts at B. Riley cut their Q4 2016 earnings per share estimates for shares of Universal Electronics in a report issued on Monday. B. Riley analyst I. Corydon now forecasts that the brokerage will post earnings of $0.71 per share for the quarter, down from their prior estimate of $0.96. B. Riley has a “Buy” rating and a $73.50 price objective on the stock. B. Riley also issued estimates for Universal Electronics’ Q2 2017 earnings at $0.87 EPS and Q3 2017 earnings at $1.01 EPS.
Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings data on Thursday, November 3rd. The company reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.02. Universal Electronics had a return on equity of 16.85% and a net margin of 4.05%. The company earned $170.30 million during the quarter, compared to analyst estimates of $173.98 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Universal Electronics’s revenue was up 6.1% on a year-over-year basis.
UEIC has been the topic of several other research reports. Zacks Investment Research downgraded Universal Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Dougherty & Co lifted their target price on Universal Electronics from $70.00 to $86.00 and gave the company a “buy” rating in a research note on Friday, July 15th. Sidoti assumed coverage on Universal Electronics in a research note on Friday, July 22nd. They set a “buy” rating on the stock. Finally, Lake Street Capital assumed coverage on Universal Electronics in a research note on Thursday, August 18th. They set a “buy” rating and a $87.00 target price on the stock. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $74.92.
Universal Electronics (NASDAQ:UEIC) opened at 66.20 on Wednesday. The stock’s 50 day moving average price is $70.76 and its 200 day moving average price is $70.85. The stock has a market cap of $964.60 million, a price-to-earnings ratio of 36.74 and a beta of 1.90. Universal Electronics has a one year low of $45.20 and a one year high of $80.42.
A number of institutional investors have recently added to or reduced their stakes in UEIC. Victory Capital Management Inc. boosted its position in Universal Electronics by 77.2% in the second quarter. Victory Capital Management Inc. now owns 1,469 shares of the company’s stock valued at $106,000 after buying an additional 640 shares in the last quarter. Schroder Investment Management Group bought a new position in shares of Universal Electronics during the third quarter worth approximately $108,000. PineBridge Investments L.P. boosted its position in shares of Universal Electronics by 3.3% in the second quarter. PineBridge Investments L.P. now owns 1,830 shares of the company’s stock worth $132,000 after buying an additional 59 shares during the period. Teacher Retirement System of Texas boosted its position in shares of Universal Electronics by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 2,033 shares of the company’s stock worth $147,000 after buying an additional 248 shares during the period. Finally, Smith Asset Management Group LP boosted its position in shares of Universal Electronics by 70.7% in the second quarter. Smith Asset Management Group LP now owns 2,173 shares of the company’s stock worth $157,000 after buying an additional 900 shares during the period. Institutional investors and hedge funds own 92.12% of the company’s stock.
In other Universal Electronics news, CEO Paul D. Arling sold 6,439 shares of the firm’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $77.10, for a total transaction of $496,446.90. Following the completion of the transaction, the chief executive officer now owns 173,814 shares in the company, valued at approximately $13,401,059.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Paul D. Arling sold 3,300 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $77.00, for a total value of $254,100.00. Following the transaction, the chief executive officer now owns 170,675 shares of the company’s stock, valued at approximately $13,141,975. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.
About Universal Electronics
Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.
Receive News & Stock Ratings for Universal Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Electronics Inc. and related stocks with our FREE daily email newsletter.