Wall Street brokerages expect Universal Electronics Inc (NASDAQ:UEIC) to announce $191.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Universal Electronics’ earnings. The highest sales estimate is $191.85 million and the lowest is $191.15 million. Universal Electronics reported sales of $182.72 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.8%. The company is expected to issue its next quarterly earnings results on Thursday, November 14th.
According to Zacks, analysts expect that Universal Electronics will report full year sales of $740.27 million for the current fiscal year, with estimates ranging from $730.95 million to $749.59 million. For the next fiscal year, analysts expect that the business will post sales of $777.42 million, with estimates ranging from $774.80 million to $780.03 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Universal Electronics.
Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, August 8th. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.11. Universal Electronics had a negative return on equity of 6.11% and a negative net margin of 2.22%. The firm had revenue of $193.90 million during the quarter, compared to analysts’ expectations of $178.11 million.
UEIC stock opened at $45.04 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.34 and a quick ratio of 0.83. The stock has a market capitalization of $632.61 million, a P/E ratio of 52.99, a P/E/G ratio of 4.54 and a beta of 1.34. The business has a 50-day moving average of $42.63 and a 200-day moving average of $38.40. Universal Electronics has a fifty-two week low of $23.29 and a fifty-two week high of $48.86.
In related news, insider David Cheung Hyen Chong sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $41.05, for a total transaction of $82,100.00. Following the sale, the insider now owns 13,719 shares in the company, valued at $563,164.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William C. Mulligan sold 7,811 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $44.84, for a total value of $350,245.24. Following the sale, the director now owns 23,153 shares in the company, valued at approximately $1,038,180.52. The disclosure for this sale can be found here. Corporate insiders own 7.09% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Comerica Bank raised its holdings in Universal Electronics by 2.7% during the first quarter. Comerica Bank now owns 13,773 shares of the technology company’s stock worth $529,000 after acquiring an additional 367 shares in the last quarter. Joel Isaacson & Co. LLC bought a new stake in Universal Electronics in the second quarter valued at approximately $451,000. Metropolitan Life Insurance Co. NY raised its stake in Universal Electronics by 363.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,561 shares of the technology company’s stock valued at $115,000 after buying an additional 3,577 shares during the period. Great West Life Assurance Co. Can raised its stake in Universal Electronics by 11.9% in the first quarter. Great West Life Assurance Co. Can now owns 18,769 shares of the technology company’s stock valued at $697,000 after buying an additional 2,000 shares during the period. Finally, Geode Capital Management LLC raised its stake in Universal Electronics by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 158,374 shares of the technology company’s stock valued at $4,003,000 after buying an additional 6,401 shares during the period.
About Universal Electronics
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.
Read More: What is a death cross?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Universal Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Universal Electronics and related companies with MarketBeat.com's FREE daily email newsletter.