Analysts Set Expectations for SmartRent Q4 Earnings

SmartRent, Inc. (NYSE:SMRT) – Colliers Securities issued their Q4 2024 earnings per share (EPS) estimates for SmartRent in a report issued on Monday, November 11th. Colliers Securities analyst B. Oxford expects that the company will post earnings per share of ($0.04) for the quarter. Colliers Securities has a “Neutral” rating on the stock. The consensus estimate for SmartRent’s current full-year earnings is ($0.12) per share.

Several other equities research analysts have also recently issued reports on the company. Cantor Fitzgerald cut SmartRent from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $4.00 to $2.00 in a research note on Thursday, August 8th. Keefe, Bruyette & Woods lowered shares of SmartRent from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $3.50 to $2.00 in a report on Thursday, August 8th. BTIG Research lowered shares of SmartRent from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Finally, DA Davidson cut shares of SmartRent from a “buy” rating to a “neutral” rating and dropped their price target for the company from $3.25 to $2.00 in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, SmartRent has a consensus rating of “Hold” and a consensus target price of $2.50.

SmartRent Price Performance

SmartRent stock opened at $1.48 on Wednesday. The firm has a 50 day simple moving average of $1.69 and a 200-day simple moving average of $2.03. SmartRent has a 1-year low of $1.17 and a 1-year high of $3.47.

SmartRent (NYSE:SMRT) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The firm had revenue of $40.50 million during the quarter, compared to analysts’ expectations of $45.94 million. During the same period in the prior year, the company posted ($0.04) EPS. The company’s revenue for the quarter was down 30.3% compared to the same quarter last year.

Hedge Funds Weigh In On SmartRent

Institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its stake in SmartRent by 27.2% in the third quarter. Citigroup Inc. now owns 10,009,518 shares of the company’s stock worth $17,316,000 after acquiring an additional 2,138,797 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of SmartRent by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,515,124 shares of the company’s stock worth $2,621,000 after purchasing an additional 27,662 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of SmartRent during the third quarter worth $106,000. Caprock Group LLC purchased a new position in SmartRent in the third quarter valued at $1,997,000. Finally, GSA Capital Partners LLP acquired a new stake in SmartRent in the third quarter valued at $307,000. 59.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SmartRent

In other SmartRent news, Director Frank Martell purchased 75,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $1.63 per share, for a total transaction of $122,250.00. Following the completion of the purchase, the director now directly owns 150,000 shares of the company’s stock, valued at approximately $244,500. This trade represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CMO Robyn Young bought 14,793 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was purchased at an average cost of $1.70 per share, for a total transaction of $25,148.10. Following the completion of the acquisition, the chief marketing officer now owns 52,305 shares in the company, valued at approximately $88,918.50. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frank Martell bought 75,000 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $1.63 per share, with a total value of $122,250.00. Following the completion of the purchase, the director now directly owns 150,000 shares in the company, valued at $244,500. This represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 9.00% of the stock is currently owned by company insiders.

About SmartRent

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.