Resideo Technologies (NYSE:REZI) Issues FY 2024 Earnings Guidance

Resideo Technologies (NYSE:REZI) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 1.900-2.300 for the period, compared to the consensus earnings per share estimate of 1.650. The company issued revenue guidance of $6.1 billion-$6.3 billion, compared to the consensus revenue estimate of $6.2 billion. Resideo Technologies also updated its Q2 2024 guidance to 0.430-0.530 EPS.

Resideo Technologies Stock Performance

Shares of REZI stock traded up $0.37 during midday trading on Monday, hitting $20.86. 224,907 shares of the company were exchanged, compared to its average volume of 926,746. The firm’s 50 day moving average price is $21.51 and its two-hundred day moving average price is $18.77. The firm has a market capitalization of $3.05 billion, a P/E ratio of 15.41 and a beta of 2.13. 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 has a 52 week low of $14.19 and a 52 week high of $23.21.

Resideo Technologies (NYSE:REZI) last announced its earnings results on Thursday, May 2nd. The company reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Resideo Technologies had a net margin of 3.17% and a return on equity of 9.26%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, equities research analysts anticipate that Resideo Technologies will post 2.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.