Oppenheimer Research Analysts Cut Earnings Estimates for Resideo Technologies Inc (NYSE:REZI)
Resideo Technologies Inc (NYSE:REZI) – Equities researchers at Oppenheimer reduced their FY2019 earnings per share estimates for Resideo Technologies in a research note issued on Monday, December 2nd. Oppenheimer analyst I. Zaffino now forecasts that the company will post earnings of $0.91 per share for the year, down from their prior forecast of $0.98. Oppenheimer currently has a “Market Perform” rating on the stock. Oppenheimer also issued estimates for Resideo Technologies’ Q4 2019 earnings at $0.33 EPS and FY2020 earnings at $1.13 EPS.
Several other research firms also recently issued reports on REZI. Bank of America downgraded Resideo Technologies from a “buy” rating to a “neutral” rating in a report on Wednesday, October 23rd. Imperial Capital decreased their target price on Resideo Technologies from $25.00 to $12.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Zacks Investment Research cut Resideo Technologies from a “hold” rating to a “sell” rating in a report on Saturday, October 26th. Finally, ValuEngine raised Resideo Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $20.00.
Resideo Technologies (NYSE:REZI) last released its quarterly 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). Resideo Technologies had a net margin of 1.23% and a return on equity of 7.63%. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same period last year, the firm posted $2.53 earnings per share. Resideo Technologies’s revenue was up 2.2% on a year-over-year basis.
Institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC acquired a new stake in Resideo Technologies in the third quarter valued at approximately $29,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Resideo Technologies during the 2nd quarter worth $33,000. Employers Holdings Inc. acquired a new stake in Resideo Technologies in the second quarter valued at $35,000. Captrust Financial Advisors lifted its holdings in Resideo Technologies by 84.6% during the 2nd quarter. Captrust Financial Advisors now owns 1,663 shares of the company’s stock worth $36,000 after buying an additional 762 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its holdings in Resideo Technologies by 123.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 2,763 shares of the company’s stock worth $37,000 after buying an additional 1,526 shares during the last quarter. 85.41% of the stock is owned by institutional investors and hedge funds.
In other Resideo Technologies news, CFO Joseph Douglas Ragan III sold 11,109 shares of the stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $9.87, for a total value of $109,645.83. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Robert P. Ryder acquired 22,900 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was bought at an average price of $8.81 per share, with a total value of $201,749.00. Following the purchase, the chief financial officer now directly owns 22,900 shares in the company, valued at approximately $201,749. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 33,751 shares of company stock worth $312,256. 0.09% of the stock is owned by insiders.
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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