Universal Electronics (NASDAQ:UEIC) Releases Q2 2024 Earnings Guidance

Universal Electronics (NASDAQ:UEIC) updated its second quarter 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of -0.100–0.060 for the period, compared to the consensus estimate of -0.030. The company issued revenue guidance of $90.0 million-$100.0 million, compared to the consensus revenue estimate of $96.4 million.

Analysts Set New Price Targets

A number of research firms have commented on UEIC. StockNews.com upgraded shares of Universal Electronics from a hold rating to a buy rating in a report on Friday, March 15th. B. Riley increased their price target on shares of Universal Electronics from $10.50 to $11.00 and gave the company a neutral rating in a research note on Monday. Finally, Rosenblatt Securities reissued a neutral rating and issued a $15.00 price target on shares of Universal Electronics in a research note on Friday.

Universal Electronics Trading Up 14.3 %

Universal Electronics stock traded up $1.61 during trading on Monday, hitting $12.83. The company had a trading volume of 106,396 shares, compared to its average volume of 43,055. Universal Electronics has a 1-year low of $7.02 and a 1-year high of $12.94. The company’s 50 day simple moving average is $9.75 and its 200-day simple moving average is $8.89. The stock has a market cap of $166.41 million, a price-to-earnings ratio of -3.54 and a beta of 1.07.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, February 15th. The technology company reported ($0.55) earnings per share for the quarter, missing the consensus estimate of ($0.27) by ($0.28). Universal Electronics had a negative net margin of 11.27% and a negative return on equity of 22.59%. The company had revenue of $97.59 million during the quarter, compared to analyst estimates of $97.52 million. As a group, analysts forecast that Universal Electronics will post -0.31 earnings per share for the current fiscal year.

Universal Electronics Company Profile

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.