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

Universal Electronics (NASDAQ:UEIC) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of -0.100–0.060 for the period, compared to the consensus EPS 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.

Universal Electronics Stock Up 11.9 %

NASDAQ:UEIC traded up $1.34 on Monday, reaching $12.56. The company’s stock had a trading volume of 126,454 shares, compared to its average volume of 43,393. The firm has a market cap of $162.90 million, a price-to-earnings ratio of -3.56 and a beta of 1.07. Universal Electronics has a 12-month low of $7.02 and a 12-month high of $12.94. The stock has a 50 day moving average price of $9.75 and a 200 day moving average price of $8.89.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, February 15th. The technology company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates 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. Equities research analysts expect that Universal Electronics will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.