Universal Electronics (UEIC) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS
Universal Electronics (NASDAQ:UEIC) posted its quarterly earnings results on Thursday. The company reported $0.40 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.35 by $0.05, Stock Ratings News reports. The company had revenue of $129.80 million for the quarter, compared to the consensus estimate of $123.21 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Universal Electronics updated its Q2 guidance to $0.56-0.66 EPS.
Universal Electronics (NASDAQ:UEIC) traded down 1.74% on Thursday, hitting $36.70. The stock had a trading volume of 153,448 shares. Universal Electronics has a one year low of $21.50 and a one year high of $45.24. The stock’s 50-day moving average is $37.88 and its 200-day moving average is $37.82. The company has a market cap of $583.1 million and a P/E ratio of 25.41.
On a related note, analysts at Zacks upgraded shares of Universal Electronics from a “neutral” rating to an “outperform” rating in a research note on Monday, April 14th. They now have a $44.80 price target on the stock. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $40.20.
Universal Electronics Inc develops and manufactures a line of pre-programmed universal wireless remote control products, audio-video accessories, and software that are marketed for home entertainment systems.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.