Universal Electronics (NASDAQ:UEIC) Issues Q4 2024 Earnings Guidance

Universal Electronics (NASDAQ:UEIC) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.100-0.200 for the period, compared to the consensus estimate of 0.150. The company issued revenue guidance of $99.0 million-$109.0 million, compared to the consensus revenue estimate of $99.9 million.

Universal Electronics Price Performance

NASDAQ:UEIC traded up $2.67 during midday trading on Friday, reaching $11.09. The stock had a trading volume of 191,945 shares, compared to its average volume of 51,339. Universal Electronics has a 1-year low of $7.17 and a 1-year high of $14.20. The firm’s fifty day simple moving average is $8.60 and its 200-day simple moving average is $10.27. The stock has a market capitalization of $143.95 million, a P/E ratio of -5.41 and a beta of 1.13.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, August 8th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). Universal Electronics had a negative net margin of 6.96% and a negative return on equity of 8.50%. The firm had revenue of $90.45 million during the quarter, compared to analyst estimates of $94.86 million. On average, equities research analysts anticipate that Universal Electronics will post -0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on UEIC shares. Rosenblatt Securities upgraded shares of Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Friday. StockNews.com raised shares of Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, September 19th.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People’s Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.