STMicroelectronics NV (STM) Announces Quarterly Earnings, Beats Expectations By $0.01 EPS
STMicroelectronics NV (NYSE:STM) announced its earnings results on Wednesday. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01, AmericanBankingNews.com reports. The company had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.89 billion.
Shares of STMicroelectronics NV (NYSE:STM) opened at 9.35 on Wednesday. STMicroelectronics NV has a 52 week low of $7.20 and a 52 week high of $10.00. The stock’s 50-day moving average is $9.28 and its 200-day moving average is $8.95. The company’s market cap is $8.328 billion.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Wednesday, September 24th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 4.28%. The ex-dividend date is Monday, September 22nd.
A number of analysts have recently weighed in on STM shares. Analysts at Zacks upgraded shares of STMicroelectronics NV from a “neutral” rating to an “outperform” rating in a research note on Thursday, July 17th. They now have a $10.20 price target on the stock. On a related note, analysts at Citigroup Inc. downgraded shares of STMicroelectronics NV from a “neutral” rating to a “sell” rating in a research note on Monday, June 2nd. Finally, analysts at HSBC downgraded shares of STMicroelectronics NV from a “neutral” rating to an “underweight” rating in a research note on Thursday, May 22nd. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $10.20.
STMicroelectronics NV is a global independent semiconductor company that designs, develops, manufactures and markets a range of semiconductor products used in a variety of microelectronic applications, including automotive products, computer peripherals, telecommunications systems, consumer products, industrial automation and control systems.
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