Universal Electronics (NASDAQ:UEIC) Updates 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 guidance of 0.100-0.200 for the period, compared to the consensus earnings per share 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

Shares of NASDAQ UEIC traded up $2.67 during trading hours on Friday, hitting $11.09. 191,945 shares of the company’s stock were exchanged, 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 stock has a market capitalization of $143.95 million, a price-to-earnings ratio of -5.41 and a beta of 1.13. The company’s 50-day moving average price is $8.60 and its 200-day moving average price is $10.27.

Universal Electronics (NASDAQ:UEIC) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $94.86 million. On average, research analysts expect that Universal Electronics will post -0.62 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded Universal Electronics from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Rosenblatt Securities raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Friday.

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.