Zacks: Brokerages Anticipate Resideo Technologies, Inc. (NYSE:REZI) Will Post Quarterly Sales of $1.45 Billion

Brokerages forecast that Resideo Technologies, Inc. (NYSE:REZIGet Rating) will announce sales of $1.45 billion for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Resideo Technologies’ earnings. The highest sales estimate is $1.45 billion and the lowest is $1.44 billion. Resideo Technologies posted sales of $1.42 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The company is scheduled to announce its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Resideo Technologies will report full-year sales of $6.15 billion for the current financial year, with estimates ranging from $6.08 billion to $6.35 billion. For the next year, analysts expect that the firm will report sales of $6.47 billion, with estimates ranging from $6.26 billion to $6.73 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Resideo Technologies.

Resideo Technologies (NYSE:REZIGet Rating) last released its quarterly earnings results on Tuesday, February 15th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. Resideo Technologies had a net margin of 4.14% and a return on equity of 11.33%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same period last year, the firm earned $0.75 earnings per share.

Several research firms have recently weighed in on REZI. Zacks Investment Research lowered shares of Resideo Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, April 21st. Morgan Stanley reduced their target price on shares of Resideo Technologies from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 16th.

Hedge funds have recently bought and sold shares of the stock. Ariel Investments LLC grew its position in Resideo Technologies by 194.8% during the fourth quarter. Ariel Investments LLC now owns 5,971,538 shares of the company’s stock valued at $155,439,000 after acquiring an additional 3,945,754 shares during the last quarter. Boston Partners bought a new position in shares of Resideo Technologies during the third quarter valued at $96,706,000. JPMorgan Chase & Co. increased its holdings in shares of Resideo Technologies by 789.9% during the fourth quarter. JPMorgan Chase & Co. now owns 4,081,809 shares of the company’s stock valued at $106,248,000 after acquiring an additional 3,623,119 shares in the last quarter. Norges Bank bought a new position in shares of Resideo Technologies during the fourth quarter valued at $37,288,000. Finally, BlackRock Inc. increased its holdings in shares of Resideo Technologies by 4.9% during the fourth quarter. BlackRock Inc. now owns 23,795,265 shares of the company’s stock valued at $619,391,000 after acquiring an additional 1,119,006 shares in the last quarter. Institutional investors own 94.37% of the company’s stock.

NYSE:REZI opened at $22.49 on Friday. The firm’s 50 day simple moving average is $24.30 and its 200 day simple moving average is $25.18. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.70 and a quick ratio of 1.21. Resideo Technologies has a one year low of $21.20 and a one year high of $33.25. The company has a market cap of $3.26 billion, a PE ratio of 13.80 and a beta of 2.35.

Resideo Technologies Company Profile (Get Rating)

Resideo Technologies, Inc develops, manufactures, and sells comfort, residential thermal, and security solutions to the commercial and residential end markets in the United States, Europe, and internationally. The company operates in two segments, Products & Solutions, and ADI Global Distribution.

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Earnings History and Estimates for Resideo Technologies (NYSE:REZI)

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