Resideo Technologies (NYSE:REZI) Releases Earnings Results, Beats Estimates By $0.14 EPS

Resideo Technologies (NYSE:REZI) announced its earnings results on Thursday. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.14, Briefing.com reports. Resideo Technologies had a return on equity of 9.33% and a net margin of 3.17%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the firm earned $0.39 EPS. Resideo Technologies’s revenue for the quarter was down 4.1% compared to the same quarter last year. Resideo Technologies updated its Q2 guidance to $0.43-$0.53 EPS and its FY24 guidance to $1.90-$2.30 EPS.

Resideo Technologies Stock Up 3.9 %

Shares of NYSE:REZI traded up $0.76 during midday trading on Friday, reaching $20.49. The company had a trading volume of 1,152,301 shares, compared to its average volume of 783,672. Resideo Technologies has a 1-year low of $14.19 and a 1-year high of $23.21. The stock has a market cap of $2.99 billion, a PE ratio of 15.41 and a beta of 2.13. The company has a quick ratio of 1.18, a current ratio of 1.80 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average price is $21.51 and its 200 day moving average price is $18.72.

Wall Street Analysts Forecast Growth

Separately, TheStreet raised shares of Resideo Technologies from a “c+” rating to a “b-” rating in a research report 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.