Resideo Technologies (NYSE:REZI) Updates 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.

Analyst Ratings Changes

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

Resideo Technologies Price Performance

Resideo Technologies stock traded up $0.23 during midday trading on Monday, reaching $20.72. 313,434 shares of the company were exchanged, compared to its average volume of 927,875. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 15.41 and a beta of 2.13. The firm’s 50-day simple moving average is $21.51 and its 200-day simple moving average is $18.77. Resideo Technologies has a 1 year low of $14.19 and a 1 year high of $23.21. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.26 and a current ratio of 1.93.

Resideo Technologies (NYSE:REZI) last released its quarterly earnings data on Thursday, May 2nd. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.14. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. Resideo Technologies had a return on equity of 9.26% and a net margin of 3.17%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 EPS. On average, analysts anticipate 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.