Resideo Technologies (NYSE:REZI) Releases Earnings Results, Beats Expectations By $0.18 EPS

Resideo Technologies (NYSE:REZI) released its quarterly earnings data on Tuesday. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.34 by $0.18, FiscalAI reports. Resideo Technologies had a net margin of 5.37% and a return on equity of 17.79%. The company had revenue of $727.00 million during the quarter, compared to the consensus estimate of $712.64 million.

Resideo Technologies Price Performance

REZI traded down $0.67 during trading on Tuesday, reaching $19.38. The stock had a trading volume of 1,578,963 shares, compared to its average volume of 1,645,412. The business has a 50-day moving average of $18.41 and a 200-day moving average of $29.43. Resideo Technologies has a one year low of $15.90 and a one year high of $42.95. The company has a debt-to-equity ratio of 1.41, a quick ratio of 1.41 and a current ratio of 2.22. The stock has a market cap of $2.94 billion, a PE ratio of 8.58 and a beta of 1.58.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on REZI. Evercore began coverage on Resideo Technologies in a report on Monday, September 28th. They set an “outperform” rating and a $30.00 price objective on the stock. Zacks Research raised Resideo Technologies from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 13th. Morgan Stanley decreased their price target on Resideo Technologies from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, July 13th. Citigroup started coverage on Resideo Technologies in a research report on Monday, October 19th. They set a “market outperform” rating on the stock. Finally, Oppenheimer reissued an “outperform” rating on shares of Resideo Technologies in a report on Thursday, August 13th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.75.

Insiders Place Their Bets

In other news, CEO Thomas A. Surran acquired 15,000 shares of Resideo Technologies stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $20.46 per share, for a total transaction of $306,900.00. Following the transaction, the chief executive officer owned 338,573 shares of the company’s stock, valued at $6,927,203.58. This trade represents a 4.64% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Joshua Foster acquired 15,317 shares of Resideo Technologies stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $20.58 per share, for a total transaction of $315,223.86. Following the completion of the transaction, the senior vice president directly owned 183,509 shares in the company, valued at approximately $3,776,615.22. The trade was a 9.11% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 41,245 shares of company stock valued at $848,115 over the last 90 days. Insiders own 1.60% of the company’s stock.

About Resideo Technologies

Resideo Technologies is a provider of products and services for home comfort, safety, security and energy management. Its offerings include thermostats and other heating and cooling controls, indoor air quality products, water leak detection devices, fire and carbon monoxide alarms, and security systems. Products are sold under brands that include Honeywell Home and First Alert. The company also operates ADI Global Distribution, a distributor of security, audio-visual, communications and smart-home products.