Universal Electronics (NASDAQ:UEIC) Updates Q2 2024 Earnings Guidance

Universal Electronics (NASDAQ:UEIC) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of -0.100–0.060 for the period, compared to the consensus earnings per share estimate of -0.030. The company issued revenue guidance of $90.0 million-$100.0 million, compared to the consensus revenue estimate of $96.4 million.

Universal Electronics Price Performance

Shares of Universal Electronics stock traded up $1.34 during trading on Monday, hitting $12.56. The stock had a trading volume of 126,454 shares, compared to its average volume of 43,393. Universal Electronics has a fifty-two week low of $7.02 and a fifty-two week high of $12.94. The business has a fifty day moving average of $9.75 and a two-hundred day moving average of $8.89. The firm has a market cap of $162.90 million, a P/E ratio of -3.56 and a beta of 1.07.

Universal Electronics (NASDAQ:UEIC) last released its earnings results on Thursday, February 15th. The technology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.28). The firm had revenue of $97.59 million during the quarter, compared to analysts’ expectations of $97.52 million. Universal Electronics had a negative return on equity of 22.59% and a negative net margin of 11.27%. As a group, research analysts forecast that Universal Electronics will post -0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on UEIC. Rosenblatt Securities reaffirmed a neutral rating and set a $15.00 target price on shares of Universal Electronics in a research note on Friday. B. Riley boosted their price objective on shares of Universal Electronics from $10.50 to $11.00 and gave the company a neutral rating in a research report on Monday. Finally, StockNews.com upgraded shares of Universal Electronics from a hold rating to a buy rating in a research note on Friday, March 15th.

Universal Electronics Company Profile

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People's Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.