Universal Electronics (NASDAQ:UEIC) Releases Q3 2024 Earnings Guidance

Universal Electronics (NASDAQ:UEIC) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.010-0.110 for the period, compared to the consensus estimate of 0.220. The company issued revenue guidance of $98.0 million-$108.0 million, compared to the consensus revenue estimate of $108.7 million.

Universal Electronics Price Performance

UEIC stock traded down $1.58 during trading on Friday, reaching $9.28. 131,957 shares of the stock traded hands, compared to its average volume of 53,095. The business’s 50 day moving average price is $11.52 and its 200-day moving average price is $10.53. Universal Electronics has a 52-week low of $7.02 and a 52-week high of $14.20. The firm has a market capitalization of $119.63 million, a PE ratio of -2.63 and a beta of 1.13.

Analysts Set New Price Targets

A number of research firms have recently weighed in on UEIC. B. Riley lifted their price target on Universal Electronics from $10.50 to $11.00 and gave the company a neutral rating in a report on Monday, May 6th. Rosenblatt Securities restated a neutral rating and issued a $15.00 target price on shares of Universal Electronics in a research note on Friday, May 3rd.

About Universal Electronics

Universal Electronics Inc designs, develops, manufactures, ships, and supports control and sensor technology solutions in the United States, the People's Republic of China, rest of Asia, Europe, Latin America, and internationally. The company offers voice-enabled automatically-programmed universal two-way radio frequency, as well as infrared remote controls to video service providers, original equipment manufacturers (OEMs), retailers, and private label customers; wall-mount and handheld thermostat controllers and connected accessories for smart energy management systems to OEM customers, hotels, hospitality, and system integrators; proprietary and standards-based RF sensors for residential security, safety, and home automation applications; and integrated circuits on which its software and universal device control database is embedded to OEMs, video service providers, and private label customers.