Zacks: Analysts Anticipate Resideo Technologies, Inc. (NYSE:REZI) Will Post Quarterly Sales of $1.67 Billion

Equities analysts expect Resideo Technologies, Inc. (NYSE:REZIGet Rating) to report $1.67 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Resideo Technologies’ earnings. The highest sales estimate is $1.68 billion and the lowest is $1.65 billion. Resideo Technologies posted sales of $1.48 billion in the same quarter last year, which suggests a positive year over year growth rate of 12.8%. The business is scheduled to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Resideo Technologies will report full year sales of $6.56 billion for the current fiscal year, with estimates ranging from $6.52 billion to $6.61 billion. For the next fiscal year, analysts expect that the business will report sales of $6.85 billion, with estimates ranging from $6.68 billion to $6.95 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Resideo Technologies.

Resideo Technologies (NYSE:REZIGet Rating) last posted its earnings results on Tuesday, May 3rd. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.14. Resideo Technologies had a return on equity of 12.62% and a net margin of 4.72%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.45 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis.

Several brokerages have weighed in on REZI. Morgan Stanley reduced their price objective on Resideo Technologies from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 16th. Zacks Investment Research raised Resideo Technologies from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd.

Shares of NYSE REZI opened at $22.94 on Friday. The business’s 50 day moving average is $23.81 and its two-hundred day moving average is $25.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.51 and a quick ratio of 0.92. Resideo Technologies has a 1-year low of $21.20 and a 1-year high of $33.25. The stock has a market capitalization of $3.34 billion, a P/E ratio of 12.20 and a beta of 2.22.

Several institutional investors and hedge funds have recently added to or reduced their stakes in REZI. Ariel Investments LLC grew its stake in shares of 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 buying an additional 3,945,754 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Resideo Technologies by 789.9% in the fourth quarter. JPMorgan Chase & Co. now owns 4,081,809 shares of the company’s stock valued at $106,248,000 after purchasing an additional 3,623,119 shares during the period. Boston Partners boosted its holdings in shares of Resideo Technologies by 91.5% in the fourth quarter. Boston Partners now owns 7,469,125 shares of the company’s stock valued at $194,328,000 after purchasing an additional 3,567,958 shares during the period. Norges Bank purchased a new stake in shares of Resideo Technologies in the fourth quarter valued at approximately $37,288,000. Finally, BlackRock Inc. boosted its holdings in shares of Resideo Technologies by 4.9% in the fourth quarter. BlackRock Inc. now owns 23,795,265 shares of the company’s stock valued at $619,391,000 after purchasing an additional 1,119,006 shares during the period. 92.91% of the stock is currently owned by hedge funds and other institutional investors.

About Resideo Technologies (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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