Resideo Technologies (NYSE:REZI) Releases Earnings Results, Beats Expectations By $0.07 EPS

Resideo Technologies (NYSE:REZIGet Rating) released its earnings results on Thursday. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07, Briefing.com reports. Resideo Technologies had a net margin of 5.14% and a return on equity of 14.00%. The company had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the previous year, the company earned $0.39 EPS. Resideo Technologies’s revenue for the quarter was up 14.2% on a year-over-year basis. Resideo Technologies updated its FY 2022 guidance to EPS and its Q3 2022 guidance to EPS.

Resideo Technologies Price Performance

Shares of NYSE REZI traded up $0.23 during mid-day trading on Friday, hitting $22.89. 749,797 shares of the company’s stock traded hands, compared to its average volume of 467,991. The company’s 50-day moving average is $21.33 and its two-hundred day moving average is $23.20. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.51 and a quick ratio of 0.92. The company has a market capitalization of $3.33 billion, a P/E ratio of 10.80 and a beta of 2.18. Resideo Technologies has a 1 year low of $18.36 and a 1 year high of $33.25.

Insider Activity

In related news, insider Robert B. Aarnes sold 65,500 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $23.03, for a total transaction of $1,508,465.00. Following the transaction, the insider now directly owns 155,081 shares in the company, valued at approximately $3,571,515.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Institutional Investors Weigh In On Resideo Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of REZI. Eaton Vance Management increased its stake in shares of Resideo Technologies by 3.6% in the first quarter. Eaton Vance Management now owns 26,148 shares of the company’s stock worth $623,000 after acquiring an additional 913 shares during the period. Parkside Financial Bank & Trust raised its stake in Resideo Technologies by 72.5% during the first quarter. Parkside Financial Bank & Trust now owns 2,467 shares of the company’s stock worth $59,000 after purchasing an additional 1,037 shares during the period. Great West Life Assurance Co. Can raised its stake in Resideo Technologies by 1.0% during the first quarter. Great West Life Assurance Co. Can now owns 127,327 shares of the company’s stock worth $3,115,000 after purchasing an additional 1,242 shares during the period. Captrust Financial Advisors increased its position in shares of Resideo Technologies by 30.1% during the first quarter. Captrust Financial Advisors now owns 6,238 shares of the company’s stock valued at $149,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Yousif Capital Management LLC increased its position in shares of Resideo Technologies by 1.7% during the first quarter. Yousif Capital Management LLC now owns 132,884 shares of the company’s stock valued at $3,167,000 after acquiring an additional 2,268 shares during the last quarter. Hedge funds and other institutional investors own 92.91% of the company’s stock.

About Resideo Technologies

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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 for Resideo Technologies (NYSE:REZI)

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