Universal Electronics Inc. (UEIC) Releases Q4 Earnings Guidance
Universal Electronics Inc. (NASDAQ:UEIC) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.55-0.65 for the period, compared to the Thomson Reuters consensus estimate of $0.91. The company issued revenue guidance of $172-180 million, compared to the consensus revenue estimate of $176.15 million.
A number of brokerages have commented on UEIC. BidaskClub cut Universal Electronics from a sell rating to a strong sell rating in a research note on Saturday, August 12th. ValuEngine upgraded Universal Electronics from a sell rating to a hold rating in a research note on Tuesday, August 22nd. B. Riley restated a buy rating and set a $77.25 price objective on shares of Universal Electronics in a research note on Thursday, August 10th. Finally, Zacks Investment Research upgraded Universal Electronics from a hold rating to a strong-buy rating and set a $73.00 price objective on the stock in a research note on Tuesday, October 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $74.50.
Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, August 3rd. The technology company reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The firm had revenue of $177.58 million for the quarter, compared to the consensus estimate of $176.12 million. Universal Electronics had a net margin of 2.37% and a return on equity of 11.97%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.74 earnings per share.
In other Universal Electronics news, Director Gregory Stapleton sold 10,000 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $60.31, for a total transaction of $603,100.00. Following the completion of the sale, the director now directly owns 35,726 shares in the company, valued at $2,154,635.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William C. Mulligan purchased 5,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were purchased at an average price of $55.91 per share, with a total value of $279,550.00. Following the completion of the acquisition, the director now directly owns 17,966 shares of the company’s stock, valued at $1,004,479.06. The disclosure for this purchase can be found here. Corporate insiders own 5.82% of the company’s stock.
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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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