Motorola Solutions (NYSE:MSI) Updates FY24 Earnings Guidance

Motorola Solutions (NYSE:MSI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $13.22-13.30 for the period, compared to the consensus estimate of $13.09. The company issued revenue guidance of +8% yr/yr to $10.77 billion, compared to the consensus revenue estimate of $10.69 billion. Motorola Solutions also updated its FY 2024 guidance to 13.220-13.300 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MSI shares. Barclays increased their price objective on Motorola Solutions from $372.00 to $467.00 and gave the stock an overweight rating in a research note on Friday. JPMorgan Chase & Co. raised their price target on shares of Motorola Solutions from $436.00 to $440.00 and gave the stock an overweight rating in a report on Friday. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Motorola Solutions from $375.00 to $385.00 and gave the company a buy rating in a research note on Monday, June 3rd. Finally, Bank of America lifted their target price on shares of Motorola Solutions from $370.00 to $440.00 and gave the company a buy rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $393.14.

Motorola Solutions Stock Up 2.9 %

Shares of Motorola Solutions stock traded up $11.72 during midday trading on Friday, reaching $410.30. 1,293,684 shares of the company’s stock traded hands, compared to its average volume of 596,837. The company has a debt-to-equity ratio of 11.16, a quick ratio of 1.01 and a current ratio of 1.19. Motorola Solutions has a 52 week low of $269.64 and a 52 week high of $410.67. The company’s 50 day simple moving average is $384.10 and its 200 day simple moving average is $356.07. The company has a market cap of $68.44 billion, a price-to-earnings ratio of 50.72, a price-to-earnings-growth ratio of 3.48 and a beta of 0.94.

Motorola Solutions (NYSE:MSI) last posted its earnings results on Thursday, May 2nd. The communications equipment provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.29. The company had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.34 billion. Motorola Solutions had a return on equity of 378.15% and a net margin of 14.04%. Equities analysts expect that Motorola Solutions will post 12.09 earnings per share for the current fiscal year.

Motorola Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 14th were paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Friday, June 14th. Motorola Solutions’s payout ratio is 48.45%.

Insider Buying and Selling

In related news, SVP Rajan Naik sold 5,274 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $373.81, for a total value of $1,971,473.94. Following the transaction, the senior vice president now directly owns 8,939 shares in the company, valued at approximately $3,341,487.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Katherine A. Maher sold 2,615 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $354.68, for a total transaction of $927,488.20. Following the completion of the transaction, the chief accounting officer now directly owns 1,138 shares in the company, valued at $403,625.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Rajan Naik sold 5,274 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $373.81, for a total transaction of $1,971,473.94. Following the transaction, the senior vice president now directly owns 8,939 shares in the company, valued at approximately $3,341,487.59. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,389 shares of company stock worth $3,446,461. 1.50% of the stock is currently owned by insiders.

About Motorola Solutions

Motorola Solutions, Inc provides public safety and enterprise security solutions in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and Services. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video security devices and infrastructure, as well as the implementation and integration of systems, devices, software, and applications for government, public safety, and commercial customers who operate private communications networks and video security solutions, as well as manage a mobile workforce.