Resideo Technologies (NYSE:REZI) Updates Q2 2024 Earnings Guidance

Resideo Technologies (NYSE:REZI) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of 0.430-0.530 for the period, compared to the consensus estimate of 0.420. The company issued revenue guidance of $1.5 billion-$1.6 billion, compared to the consensus revenue estimate of $1.6 billion. Resideo Technologies also updated its FY 2024 guidance to 1.900-2.300 EPS.

Wall Street Analysts Forecast Growth

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

Resideo Technologies Stock Up 2.0 %

REZI traded up $0.42 on Monday, hitting $20.91. The company had a trading volume of 142,653 shares, compared to its average volume of 925,635. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.93 and a quick ratio of 1.26. Resideo Technologies has a 52-week low of $14.19 and a 52-week high of $23.21. The stock has a fifty day simple moving average of $21.51 and a 200-day simple moving average of $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.

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