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

Universal Electronics (NASDAQ:UEIC) updated its second quarter 2024 earnings guidance on Friday. The company provided EPS guidance of -0.100–0.060 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Rosenblatt Securities restated a neutral rating and set a $15.00 target price on shares of Universal Electronics in a research report on Friday. B. Riley boosted their target price on Universal Electronics from $10.50 to $11.00 and gave the stock a neutral rating in a research report on Monday. Finally, StockNews.com upgraded Universal Electronics from a hold rating to a buy rating in a research report on Friday, March 15th.

Universal Electronics Stock Up 15.0 %

Shares of UEIC traded up $1.68 on Monday, hitting $12.90. The company’s stock had a trading volume of 111,303 shares, compared to its average volume of 43,140. The firm’s fifty day moving average price is $9.75 and its 200-day moving average price is $8.89. Universal Electronics has a fifty-two week low of $7.02 and a fifty-two week high of $12.94. The firm has a market capitalization of $167.31 million, a price-to-earnings ratio of -3.54 and a beta of 1.07.

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

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.