Motorola Solutions (NYSE:MSI) Issues Q3 2024 Earnings Guidance

Motorola Solutions (NYSE:MSI) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 3.320-3.370 for the period, compared to the consensus estimate of 3.320. The company issued revenue guidance of $2.7 billion-$2.8 billion, compared to the consensus revenue estimate of $2.7 billion. Motorola Solutions also updated its FY 2024 guidance to 13.220-13.300 EPS.

Motorola Solutions Trading Up 2.9 %

Shares of NYSE MSI traded up $11.72 during mid-day trading on Friday, reaching $410.30. 1,293,684 shares of the company’s stock were exchanged, compared to its average volume of 596,837. The company’s 50-day moving average is $384.10 and its 200-day moving average is $356.07. Motorola Solutions has a 52-week low of $269.64 and a 52-week high of $410.67. The firm has a market capitalization of $68.44 billion, a price-to-earnings ratio of 50.72, a PEG ratio of 3.48 and a beta of 0.94. The company has a debt-to-equity ratio of 11.16, a quick ratio of 1.01 and a current ratio of 1.19.

Motorola Solutions (NYSE:MSI) last issued its earnings results on Thursday, May 2nd. The communications equipment provider reported $2.56 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.29. The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Motorola Solutions had a return on equity of 378.15% and a net margin of 14.04%. Analysts expect that Motorola Solutions will post 12.09 EPS for the current fiscal year.

Motorola Solutions Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were given a dividend of $0.98 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $3.92 dividend on an annualized basis and a yield of 0.96%. Motorola Solutions’s payout ratio is 48.45%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Motorola Solutions from $372.00 to $467.00 and gave the stock an overweight rating in a report on Friday. JPMorgan Chase & Co. upped their price target on Motorola Solutions from $436.00 to $440.00 and gave the stock an overweight rating in a research note on Friday. Deutsche Bank Aktiengesellschaft upped their price target on Motorola Solutions from $375.00 to $385.00 and gave the stock a buy rating in a research note on Monday, June 3rd. Finally, Bank of America upped their target price on Motorola Solutions from $370.00 to $440.00 and gave the stock a buy rating in a research report on Thursday, July 18th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $393.14.

Insiders Place Their Bets

In related news, SVP James A. Niewiara sold 810 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $358.09, for a total transaction of $290,052.90. Following the sale, the senior vice president now owns 12,986 shares of the company’s stock, valued at approximately $4,650,156.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Motorola Solutions news, SVP James A. Niewiara sold 810 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $358.09, for a total transaction of $290,052.90. Following the completion of the sale, the senior vice president now directly owns 12,986 shares in the company, valued at $4,650,156.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Katherine A. Maher sold 2,615 shares of Motorola Solutions stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $354.68, for a total transaction of $927,488.20. Following the completion of the sale, the chief accounting officer now owns 1,138 shares of the company’s stock, valued at $403,625.84. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,389 shares of company stock valued at $3,446,461. 1.50% of the stock is currently owned by corporate insiders.

About Motorola Solutions

Motorola Solutions, Inc provides public safety and enterprise security solutions in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and Services. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video security devices and infrastructure, as well as the implementation and integration of systems, devices, software, and applications for government, public safety, and commercial customers who operate private communications networks and video security solutions, as well as manage a mobile workforce.