Resideo Technologies (NYSE:REZI) Releases Earnings Results, Beats Expectations By $0.03 EPS

Resideo Technologies (NYSE:REZI) posted its earnings results on Tuesday. The company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03, FiscalAI reports. Resideo Technologies had a positive return on equity of 14.96% and a negative net margin of 8.85%.The firm had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.89 billion.

Resideo Technologies Stock Up 3.6%

Shares of Resideo Technologies stock traded up $1.23 during trading hours on Tuesday, hitting $35.83. 1,493,001 shares of the company’s stock traded hands, compared to its average volume of 1,317,762. The company has a quick ratio of 1.07, a current ratio of 1.88 and a debt-to-equity ratio of 1.38. Resideo Technologies has a twelve month low of $14.18 and a twelve month high of $45.29. The stock has a 50 day simple moving average of $35.89 and a 200-day simple moving average of $36.41. The company has a market cap of $5.36 billion, a PE ratio of -7.66 and a beta of 1.73.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on REZI. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Resideo Technologies in a report on Thursday, January 22nd. Zacks Research cut Resideo Technologies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Finally, Wall Street Zen lowered Resideo Technologies from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Two analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $34.67.

Hedge Funds Weigh In On Resideo Technologies

A number of hedge funds have recently added to or reduced their stakes in REZI. Larson Financial Group LLC raised its position in shares of Resideo Technologies by 283.8% during the 3rd quarter. Larson Financial Group LLC now owns 568 shares of the company’s stock worth $25,000 after purchasing an additional 420 shares during the period. McMillan Office Inc. acquired a new stake in shares of Resideo Technologies in the fourth quarter valued at $33,000. Headlands Technologies LLC bought a new stake in shares of Resideo Technologies in the 2nd quarter worth approximately $34,000. Kestra Advisory Services LLC bought a new position in shares of Resideo Technologies in the fourth quarter valued at $34,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Resideo Technologies during the fourth quarter valued at $39,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

Resideo Technologies Company Profile

Resideo Technologies, Inc, headquartered in Austin, Texas, is a global provider of home comfort, security and energy management solutions. Formed as an independent company in 2018 following its spin-off from Honeywell, Resideo leverages decades of engineering experience to deliver connected products and services to residential and light commercial customers.

The company’s core offerings include smart thermostats, security systems, video doorbells, water leak and freeze detection devices, and indoor air quality monitors.