Brokerages predict that Universal Electronics Inc (NASDAQ:UEIC) will announce sales of $161.78 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Universal Electronics’ earnings, with estimates ranging from $161.15 million to $162.40 million. Universal Electronics posted sales of $177.58 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.9%. The firm is expected to report its next quarterly earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Universal Electronics will report full-year sales of $681.56 million for the current financial year, with estimates ranging from $672.70 million to $690.42 million. For the next year, analysts anticipate that the business will post sales of $741.16 million per share, with estimates ranging from $737.91 million to $744.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Universal Electronics.
Get Universal Electronics alerts:Universal Electronics (NASDAQ:UEIC) last issued its earnings results on Thursday, May 3rd. The technology company reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.02). Universal Electronics had a negative net margin of 1.58% and a positive return on equity of 9.08%. The company had revenue of $164.70 million for the quarter, compared to analysts’ expectations of $172.68 million.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Thursday, April 12th. ValuEngine lowered shares of Universal Electronics from a “sell” rating to a “strong sell” rating in a research note on Friday, May 4th. Piper Jaffray Companies lowered shares of Universal Electronics from an “overweight” rating to a “neutral” rating in a research note on Friday, May 4th. Zacks Investment Research lowered shares of Universal Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, May 10th. Finally, B. Riley lowered shares of Universal Electronics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $75.00 to $46.00 in a research note on Friday, May 4th. Three equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has a consensus rating of “Sell” and an average target price of $63.00.
NASDAQ:UEIC traded down $0.03 during mid-day trading on Tuesday, reaching $31.00. The company’s stock had a trading volume of 139,100 shares, compared to its average volume of 110,657. Universal Electronics has a 1 year low of $26.97 and a 1 year high of $72.50. The firm has a market cap of $437.90 million, a PE ratio of 11.03, a price-to-earnings-growth ratio of 4.49 and a beta of 1.25. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.24 and a quick ratio of 0.80.
In related news, insider Richard A. Firehammer, Jr. sold 2,817 shares of the company’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $52.35, for a total value of $147,469.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gregory Stapleton sold 10,000 shares of the company’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $50.04, for a total transaction of $500,400.00. Following the completion of the sale, the director now directly owns 37,601 shares of the company’s stock, valued at $1,881,554.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,317 shares of company stock valued at $829,170. 5.97% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in UEIC. First Mercantile Trust Co. lifted its position in shares of Universal Electronics by 83.7% during the fourth quarter. First Mercantile Trust Co. now owns 3,651 shares of the technology company’s stock valued at $173,000 after buying an additional 1,664 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Universal Electronics during the fourth quarter valued at about $235,000. Wrapmanager Inc. purchased a new stake in shares of Universal Electronics during the first quarter valued at about $255,000. MetLife Investment Advisors LLC purchased a new stake in shares of Universal Electronics during the fourth quarter valued at about $285,000. Finally, FDx Advisors Inc. purchased a new stake in shares of Universal Electronics during the first quarter valued at about $295,000. 95.99% of the stock is owned by institutional investors and hedge funds.
Universal Electronics Company Profile
Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.
Get a free copy of the Zacks research report on Universal Electronics (UEIC)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
No comments:
Post a Comment