STMicroelectronics (STM) Expected to Announce Quarterly Earnings on Thursday

STMicroelectronics (NYSE:STM) is anticipated to announce its earnings results before the market opens on Thursday, January 30th. Analysts expect the company to announce earnings of $0.35 per share and revenue of $3.31 billion for the quarter. STMicroelectronics has set its FY 2024 guidance at EPS and its Q4 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

STMicroelectronics (NYSE:STM) last issued its quarterly earnings results on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping the consensus estimate of $0.33 by $0.04. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.29%. The company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.27 billion. During the same quarter in the previous year, the company earned $1.16 EPS. STMicroelectronics’s revenue was down 26.6% on a year-over-year basis. On average, analysts expect STMicroelectronics to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

STMicroelectronics Trading Down 2.4 %

NYSE:STM opened at $24.58 on Wednesday. The business’s 50-day moving average price is $25.36 and its two-hundred day moving average price is $28.34. The company has a current ratio of 2.84, a quick ratio of 2.16 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 4.48 and a beta of 1.52. STMicroelectronics has a 1-year low of $23.66 and a 1-year high of $49.05.

STMicroelectronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio (DPR) is presently 12.76%.

Wall Street Analyst Weigh In

STM has been the subject of several recent analyst reports. Citigroup raised STMicroelectronics to a “strong-buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a report on Monday, December 9th. Barclays cut STMicroelectronics from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 22nd. TD Cowen lowered shares of STMicroelectronics from a “buy” rating to a “hold” rating and decreased their price target for the company from $32.00 to $25.00 in a research note on Monday, January 13th. Finally, Robert W. Baird reduced their target price on shares of STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.11.

About STMicroelectronics

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.