Resideo Technologies (NYSE:REZI) Updates 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 traded up $0.42 during mid-day trading on Monday, hitting $20.91. The stock had a trading volume of 142,653 shares, compared to its average volume of 925,635. The business has a fifty day moving average price of $21.51 and a 200-day moving average price of $18.77. Resideo Technologies has a 52 week low of $14.19 and a 52 week high of $23.21. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.93 and a quick ratio of 1.26. The firm has a market cap of $3.05 billion, a P/E ratio of 15.41 and a beta of 2.13.

Resideo Technologies (NYSE:REZI) last issued its earnings results on Thursday, May 2nd. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.14. The company 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 firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.39 EPS. On average, equities research analysts expect that Resideo Technologies will post 2.1 EPS for the current year.

Wall Street Analyst Weigh In

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

Resideo Technologies Company Profile

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.