Brokerages Anticipate Universal Electronics Inc. (UEIC) to Announce $0.86 Earnings Per Share
Wall Street analysts expect Universal Electronics Inc. (NASDAQ:UEIC) to post earnings per share of $0.86 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Universal Electronics’ earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.86. Universal Electronics posted earnings of $0.94 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 8.5%. The company is scheduled to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Universal Electronics will report full year earnings of $3.27 per share for the current year, with EPS estimates ranging from $3.24 to $3.30. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.27 per share, with EPS estimates ranging from $4.13 to $4.40. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Universal Electronics.
Universal Electronics (NASDAQ:UEIC) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.78 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.78. The business had revenue of $177.58 million for the quarter, compared to analysts’ expectations of $176.12 million. Universal Electronics had a return on equity of 11.97% and a net margin of 2.37%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 EPS.
Several equities research analysts have recently commented on UEIC shares. B. Riley reiterated a “buy” rating and set a $77.25 price objective on shares of Universal Electronics in a research note on Thursday, August 10th. BidaskClub upgraded shares of Universal Electronics from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Universal Electronics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, ValuEngine upgraded shares of Universal Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Universal Electronics has a consensus rating of “Hold” and an average target price of $74.06.
Universal Electronics (UEIC) opened at 59.30 on Friday. Universal Electronics has a 12-month low of $52.90 and a 12-month high of $77.97. The stock’s 50 day moving average price is $59.75 and its 200 day moving average price is $65.10. The company has a market capitalization of $853.98 million, a PE ratio of 54.86 and a beta of 1.64.
In other Universal Electronics news, Director William C. Mulligan bought 5,000 shares of Universal Electronics stock in a transaction on Wednesday, August 23rd. The shares were bought at an average cost of $55.91 per share, for a total transaction of $279,550.00. Following the acquisition, the director now directly owns 17,966 shares in the company, valued at $1,004,479.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.82% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of Universal Electronics by 151,751.4% in the 1st 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. William Blair Investment Management LLC grew its position in Universal Electronics by 20.1% during the 2nd quarter. William Blair Investment Management LLC now owns 1,599,417 shares of the technology company’s stock worth $106,921,000 after purchasing an additional 267,722 shares during the last quarter. Vanguard Group Inc. grew its position in Universal Electronics by 3.3% during the 2nd quarter. Vanguard Group Inc. now owns 747,254 shares of the technology company’s stock worth $49,955,000 after purchasing an additional 23,964 shares during the last quarter. Voya Investment Management LLC grew its position in Universal Electronics by 7.2% during the 2nd quarter. Voya Investment Management LLC now owns 449,411 shares of the technology company’s stock worth $30,043,000 after purchasing an additional 30,337 shares during the last quarter. Finally, State Street Corp grew its position in Universal Electronics by 5.3% during the 2nd quarter. State Street Corp now owns 349,027 shares of the technology company’s stock worth $23,332,000 after purchasing an additional 17,564 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.
Universal Electronics Company Profile
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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