Analysts Anticipate Universal Electronics Inc. (UEIC) Will Announce Quarterly Sales of $175.74 Million
Brokerages predict that Universal Electronics Inc. (NASDAQ:UEIC) will post sales of $175.74 million for the current quarter, Zacks reports. Two analysts have provided estimates for Universal Electronics’ earnings, with the highest sales estimate coming in at $176.48 million and the lowest estimate coming in at $175.00 million. Universal Electronics posted sales of $170.99 million during the same quarter last year, which suggests a positive year over year growth rate of 2.8%. The business is scheduled to issue its next quarterly earnings results after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that Universal Electronics will report full-year sales of $175.74 million for the current year, with estimates ranging from $677.90 million to $711.76 million. For the next year, analysts forecast that the firm will post sales of $749.77 million per share, with estimates ranging from $734.59 million to $764.95 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Universal Electronics.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.02. The company had revenue of $162.30 million for the quarter, compared to analyst estimates of $158.77 million. Universal Electronics had a net margin of 2.68% and a return on equity of 14.40%. Universal Electronics’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 EPS.
Several analysts have issued reports on the company. Zacks Investment Research upgraded Universal Electronics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. B. Riley restated a “buy” rating and issued a $77.25 target price on shares of Universal Electronics in a report on Monday, March 27th. Piper Jaffray Companies restated a “buy” rating and issued a $77.00 target price on shares of Universal Electronics in a report on Friday, May 5th. BidaskClub upgraded Universal Electronics from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Lake Street Capital cut Universal Electronics from a “buy” rating to a “hold” rating and set a $71.00 target price for the company. in a report on Friday, May 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Universal Electronics currently has an average rating of “Buy” and a consensus price target of $74.06.
Universal Electronics (NASDAQ UEIC) traded up 0.75% on Friday, hitting $67.30. 73,338 shares of the stock traded hands. Universal Electronics has a 52 week low of $52.90 and a 52 week high of $80.42. The firm has a market capitalization of $971.27 million, a PE ratio of 56.08 and a beta of 1.65. The stock has a 50 day moving average of $66.87 and a 200 day moving average of $66.34.
In related news, Director Edward K. Zinser sold 10,000 shares of the stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $72.00, for a total transaction of $720,000.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,440,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.82% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of UEIC. BlackRock Inc. raised its position in Universal Electronics by 151,751.4% in the first quarter. BlackRock Inc. now owns 1,705,291 shares of the technology company’s stock valued at $116,813,000 after buying an additional 1,704,168 shares during the last quarter. Kennedy Capital Management Inc. raised its position in Universal Electronics by 69.4% in the first quarter. Kennedy Capital Management Inc. now owns 196,649 shares of the technology company’s stock valued at $13,470,000 after buying an additional 80,546 shares during the last quarter. Wells Fargo & Company MN raised its position in Universal Electronics by 32.8% in the first quarter. Wells Fargo & Company MN now owns 173,427 shares of the technology company’s stock valued at $11,880,000 after buying an additional 42,878 shares during the last quarter. Vanguard Group Inc. raised its position in Universal Electronics by 5.6% in the first quarter. Vanguard Group Inc. now owns 723,290 shares of the technology company’s stock valued at $49,546,000 after buying an additional 38,395 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in Universal Electronics by 2.9% in the first quarter. William Blair Investment Management LLC now owns 1,331,695 shares of the technology company’s stock valued at $91,221,000 after buying an additional 37,494 shares during the last quarter. 92.86% of the stock is currently owned by hedge funds and other institutional investors.
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About Universal Electronics
Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.
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