Resideo Technologies (NYSE:REZI) Issues Q2 2024 Earnings Guidance

Resideo Technologies (NYSE:REZI) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.430-0.530 for the period, compared to the consensus earnings per share estimate of 0.420. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Resideo Technologies also updated its FY 2024 guidance to 1.900-2.300 EPS.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded shares of Resideo Technologies from a c+ rating to a b- rating in a research report on Wednesday, February 28th.

Resideo Technologies Stock Up 1.2 %

Shares of NYSE REZI traded up $0.25 during midday trading on Monday, hitting $20.74. The stock had a trading volume of 292,732 shares, compared to its average volume of 927,503. The business’s 50 day moving average is $21.51 and its 200-day moving average is $18.77. The company has a market cap of $3.03 billion, a P/E ratio of 15.41 and a beta of 2.13. Resideo Technologies has a 52 week low of $14.19 and a 52 week high of $23.21. The company has a quick ratio of 1.26, a current ratio of 1.93 and a debt-to-equity ratio of 0.50.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Thursday, May 2nd. The company reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.14. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Resideo Technologies had a net margin of 3.17% and a return on equity of 9.26%. The business’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 earnings per share. As a group, analysts predict that Resideo Technologies will post 2.1 EPS for the current year.

About Resideo Technologies

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.