Universal Electronics (NASDAQ:UEIC) Issues Q4 2024 Earnings Guidance

Universal Electronics (NASDAQ:UEIC) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.100-0.200 for the period, compared to the consensus EPS estimate of 0.150. The company issued revenue guidance of $99.0 million-$109.0 million, compared to the consensus revenue estimate of $99.9 million.

Universal Electronics Stock Up 31.7 %

Shares of UEIC stock traded up $2.67 during trading on Friday, reaching $11.09. 191,945 shares of the company’s stock were exchanged, compared to its average volume of 51,339. The stock has a market capitalization of $143.95 million, a PE ratio of -5.41 and a beta of 1.13. Universal Electronics has a twelve month low of $7.17 and a twelve month high of $14.20. The firm’s fifty day moving average price is $8.60 and its 200-day moving average price is $10.27.

Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.01). The firm had revenue of $90.45 million during the quarter, compared to the consensus estimate of $94.86 million. Universal Electronics had a negative net margin of 6.96% and a negative return on equity of 8.50%. As a group, analysts anticipate that Universal Electronics will post -0.62 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on UEIC shares. StockNews.com upgraded Universal Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Rosenblatt Securities upgraded Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Friday.

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.