STMicroelectronics (NYSE:STM) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

STMicroelectronics (NYSE:STM) announced its quarterly earnings data on Thursday. The semiconductor producer reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.04, Briefing.com reports. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.44%. The firm had revenue of $3.25 billion during the quarter, compared to analyst estimates of $3.27 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. STMicroelectronics’s quarterly revenue was down 26.6% on a year-over-year basis. STMicroelectronics updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

STMicroelectronics Trading Down 1.7 %

NYSE STM opened at $26.67 on Friday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.56 and a current ratio of 3.35. The firm has a market cap of $24.09 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 3.36 and a beta of 1.58. The firm has a 50 day simple moving average of $28.67 and a 200-day simple moving average of $35.39. STMicroelectronics has a one year low of $26.44 and a one year high of $51.27.

STMicroelectronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 annualized dividend and a dividend yield of 1.35%. STMicroelectronics’s dividend payout ratio is presently 12.76%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Robert W. Baird dropped their price target on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday. Susquehanna lowered their price objective on STMicroelectronics from $35.00 to $33.00 and set a “positive” rating for the company in a research report on Friday. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research note on Thursday, October 10th. StockNews.com lowered STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Finally, Craig Hallum lowered their price target on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a report on Thursday. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, STMicroelectronics presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.63.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.