Resideo Technologies, Inc. Expected to Post FY2024 Earnings of $2.72 Per Share (NYSE:REZI) – MarketBeat
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Resideo Technologies, Inc. (NYSE:REZI – Get Rating) – Equities researchers at William Blair cut their FY2024 earnings per share (EPS) estimates for shares of Resideo Technologies in a research note issued to investors on Thursday, August 4th. William Blair analyst R. Merkel now forecasts that the company will post earnings of $2.72 per share for the year, down from their previous forecast of $2.90. The consensus estimate for Resideo Technologies’ current full-year earnings is $2.40 per share.
Resideo Technologies Trading Up 1.0 %
Shares of Resideo Technologies stock opened at $22.89 on Monday. The stock has a 50 day moving average of $21.33 and a 200 day moving average of $23.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.92 and a current ratio of 1.51. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 10.80 and a beta of 2.18. Resideo Technologies has a fifty-two week low of $18.36 and a fifty-two week high of $33.25.
Resideo Technologies (NYSE:REZI – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.07. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. Resideo Technologies had a net margin of 5.14% and a return on equity of 14.00%. Resideo Technologies’s revenue was up 14.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.39 EPS.
Insider Activity
In related news, insider Robert B. Aarnes sold 65,500 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $23.03, for a total transaction of $1,508,465.00. Following the completion of the sale, the insider now directly owns 155,081 shares of the company’s stock, valued at approximately $3,571,515.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.09% of the company’s stock.
Institutional Investors Weigh In On Resideo Technologies
Several institutional investors and hedge funds have recently modified their holdings of REZI. Meridian Wealth Management LLC acquired a new position in Resideo Technologies in the 2nd quarter valued at about $1,254,000. Seizert Capital Partners LLC acquired a new stake in Resideo Technologies during the 2nd quarter worth approximately $1,267,000. Nisa Investment Advisors LLC boosted its position in Resideo Technologies by 48.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 29,729 shares of the company’s stock valued at $577,000 after buying an additional 9,743 shares during the period. Robeco Schweiz AG grew its stake in shares of Resideo Technologies by 8.0% in the second quarter. Robeco Schweiz AG now owns 1,348,000 shares of the company’s stock worth $26,178,000 after acquiring an additional 100,000 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Resideo Technologies by 7.3% during the second quarter. US Bancorp DE now owns 8,508 shares of the company’s stock worth $165,000 after acquiring an additional 579 shares during the period. Hedge funds and other institutional investors own 92.91% of the company’s stock.
Resideo Technologies Company Profile
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Resideo Technologies, Inc develops, manufactures, and sells comfort, residential thermal, and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products & Solutions, and ADI Global Distribution.
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