Resideo Technologies (NYSE:REZI) Issues Q2 Earnings Guidance

Resideo Technologies (NYSE:REZI) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.43-$0.53 for the period, compared to the consensus estimate of $0.42. The company issued revenue guidance of $1.51-$1.56 billion, compared to the consensus revenue estimate of $1.58 billion. Resideo Technologies also updated its FY24 guidance to $1.90-$2.30 EPS.

Wall Street Analyst Weigh In

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

Resideo Technologies Trading Up 3.9 %

REZI traded up $0.76 during trading on Friday, hitting $20.49. 1,152,301 shares of the stock traded hands, compared to its average volume of 783,672. The firm has a market capitalization of $2.99 billion, a P/E ratio of 15.41 and a beta of 2.13. Resideo Technologies has a 12-month low of $14.19 and a 12-month high of $23.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.80 and a quick ratio of 1.18. The firm has a 50-day moving average of $21.51 and a 200 day moving average of $18.77.

Resideo Technologies (NYSE:REZI) last posted its earnings results on Thursday, May 2nd. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Resideo Technologies had a net margin of 3.17% and a return on equity of 9.33%. Resideo Technologies’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Equities research 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.