Universal Electronics Inc (UEIC) Updates Q3 Earnings Guidance
Universal Electronics Inc (NASDAQ:UEIC) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.70-0.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.71, StockRatingsNetwork reports. The company issued revenue guidance of $149-157 million, compared to the consensus revenue estimate of $151.73 million.
Shares of Universal Electronics Inc (NASDAQ:UEIC) traded down 0.94% during mid-day trading on Thursday, hitting $47.45. 217,308 shares of the company’s stock traded hands. Universal Electronics Inc has a 52 week low of $29.27 and a 52 week high of $51.49. The stock’s 50-day moving average is $48.74 and its 200-day moving average is $41.94. The company has a market cap of $755.1 million and a P/E ratio of 31.29.
Universal Electronics (NASDAQ:UEIC) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $146.32 million for the quarter, compared to the consensus estimate of $145.26 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. Analysts expect that Universal Electronics Inc will post $2.38 EPS for the current fiscal year.
A number of research firms have recently commented on UEIC. Analysts at Avondale Partners upgraded shares of Universal Electronics from a market perform rating to an outperform rating in a research note on Tuesday, July 15th. On a related note, analysts at B. Riley downgraded shares of Universal Electronics from a buy rating to a neutral rating in a research note on Monday, June 2nd. They now have a $45.75 price target on the stock, down previously from $47.00. Finally, analysts at Sidoti initiated coverage on shares of Universal Electronics in a research note on Thursday, May 29th. They set a buy rating on the stock. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $40.44.
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.
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