Motorola Solutions (NYSE:MSI) Updates FY24 Earnings Guidance

Motorola Solutions (NYSE:MSI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $12.98-13.08 for the period, compared to the consensus earnings per share estimate of $12.73. The company issued revenue guidance of ~$10.68 billion, compared to the consensus revenue estimate of $10.59 billion. Motorola Solutions also updated its Q2 guidance to $2.97-3.02 EPS.

Motorola Solutions Stock Up 0.1 %

MSI traded up $0.24 during trading hours on Thursday, hitting $336.24. 1,156,590 shares of the company’s stock were exchanged, compared to its average volume of 652,998. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 6.37. Motorola Solutions has a 12-month low of $269.64 and a 12-month high of $355.39. The firm has a market cap of $55.86 billion, a P/E ratio of 33.83, a price-to-earnings-growth ratio of 3.13 and a beta of 0.91. The firm has a 50 day moving average of $342.82 and a 200 day moving average of $323.30.

Motorola Solutions (NYSE:MSI) last posted its quarterly earnings results on Thursday, February 8th. The communications equipment provider reported $3.90 EPS for the quarter, topping the consensus estimate of $3.63 by $0.27. Motorola Solutions had a net margin of 17.12% and a return on equity of 441.65%. The company had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same quarter in the previous year, the business posted $3.38 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Analysts predict that Motorola Solutions will post 11.74 EPS for the current fiscal year.

Motorola Solutions Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.92 dividend on an annualized basis and a yield of 1.17%. Motorola Solutions’s payout ratio is currently 39.48%.

Wall Street Analysts Forecast Growth

MSI has been the subject of a number of research analyst reports. Evercore ISI initiated coverage on shares of Motorola Solutions in a report on Monday, March 25th. They issued an outperform rating and a $400.00 price target for the company. StockNews.com upgraded shares of Motorola Solutions from a hold rating to a buy rating in a report on Monday, February 12th. JPMorgan Chase & Co. raised their target price on shares of Motorola Solutions from $360.00 to $400.00 and gave the company an overweight rating in a report on Thursday, April 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Motorola Solutions in a research note on Friday, January 19th. They set a buy rating and a $350.00 price target on the stock. Finally, William Blair reissued an outperform rating on shares of Motorola Solutions in a research report on Friday, February 9th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Motorola Solutions has a consensus rating of Moderate Buy and an average target price of $348.38.

Insider Activity at Motorola Solutions

In related news, SVP Cynthia Yazdi sold 4,744 shares of Motorola Solutions stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $334.30, for a total value of $1,585,919.20. Following the completion of the transaction, the senior vice president now directly owns 8,858 shares of the company’s stock, valued at $2,961,229.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.

About Motorola Solutions

Motorola Solutions, Inc provides public safety and enterprise security solutions in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and Services. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video security devices and infrastructure, as well as the implementation and integration of systems, devices, software, and applications for government, public safety, and commercial customers who operate private communications networks and video security solutions, as well as manage a mobile workforce.