Resideo Technologies Inc (NYSE:REZI) Expected to Post Earnings of $0.28 Per Share

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Brokerages expect Resideo Technologies Inc (NYSE:REZI) to report earnings of $0.28 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Resideo Technologies’ earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.33. Resideo Technologies reported earnings per share of $0.31 during the same quarter last year, which indicates a negative year-over-year growth rate of 9.7%. The company is scheduled to announce its next earnings report on Thursday, March 5th.

On average, analysts expect that Resideo Technologies will report full year earnings of $0.97 per share for the current year, with EPS estimates ranging from $0.87 to $1.03. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.23 per share, with EPS estimates ranging from $0.81 to $1.75. Zacks’ EPS averages are an average based on a survey of analysts that cover Resideo Technologies.

Resideo Technologies (NYSE:REZI) last posted its earnings results on Wednesday, November 6th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). The business had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.23 billion. Resideo Technologies had a net margin of 1.23% and a return on equity of 7.63%. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.53 earnings per share.

A number of research analysts have weighed in on the stock. Imperial Capital decreased their price objective on shares of Resideo Technologies from $25.00 to $12.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. ValuEngine upgraded shares of Resideo Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Zacks Investment Research downgraded shares of Resideo Technologies from a “hold” rating to a “sell” rating in a research report on Saturday, October 26th. Oppenheimer downgraded shares of Resideo Technologies from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 23rd. Finally, Bank of America downgraded shares of Resideo Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Resideo Technologies currently has an average rating of “Hold” and an average price target of $20.00.

NYSE REZI traded down $0.10 on Friday, reaching $10.75. 3,630,404 shares of the company’s stock traded hands, compared to its average volume of 2,521,440. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 11.07, a P/E/G ratio of 1.95 and a beta of 1.27. The stock has a 50 day moving average price of $10.41 and a 200-day moving average price of $15.81. Resideo Technologies has a fifty-two week low of $8.60 and a fifty-two week high of $26.40. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.72 and a current ratio of 1.19.

In other news, CFO Robert P. Ryder acquired 22,900 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was acquired at an average price of $8.81 per share, for a total transaction of $201,749.00. Following the completion of the transaction, the chief financial officer now owns 22,900 shares in the company, valued at approximately $201,749. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Joseph Douglas Ragan III sold 11,109 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $9.87, for a total transaction of $109,645.83. The disclosure for this sale can be found here. In the last quarter, insiders acquired 33,751 shares of company stock valued at $312,256. Insiders own 0.09% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Comerica Bank increased its stake in shares of Resideo Technologies by 16.4% during the third quarter. Comerica Bank now owns 99,697 shares of the company’s stock worth $924,000 after purchasing an additional 14,073 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Resideo Technologies during the third quarter worth about $29,000. Coastal Investment Advisors Inc. increased its stake in shares of Resideo Technologies by 209.8% during the second quarter. Coastal Investment Advisors Inc. now owns 3,398 shares of the company’s stock worth $69,000 after purchasing an additional 2,301 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of Resideo Technologies by 35.2% during the second quarter. Wells Fargo & Company MN now owns 306,840 shares of the company’s stock worth $6,726,000 after purchasing an additional 79,810 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Resideo Technologies by 6.3% during the second quarter. BlackRock Inc. now owns 10,790,775 shares of the company’s stock worth $236,534,000 after purchasing an additional 639,881 shares in the last quarter. 85.41% of the stock is owned by institutional investors and hedge funds.

About Resideo Technologies

Resideo Technologies, Inc provides critical comfort, thermal, and security solutions primarily in residential environments in the United States, Europe, and internationally. The company operates in two segments, Products and Solutions, and Global Distribution. It offers home products, services, and technologies, including temperature and humidity control, water, air, remote patient monitoring software, and software solutions; and residential thermal solutions, such as boiler products, storage gas water heating solutions, ducted solutions, and thermal adjacency solutions.

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