Universal Electronics Inc. (UEIC) Issues Quarterly Earnings Results, Meets Expectations
Universal Electronics Inc. (NASDAQ:UEIC) announced its quarterly earnings data on Thursday. The company reported $0.70 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.70. The company had revenue of $160.10 million for the quarter, compared to analysts’ expectations of $164.41 million. Universal Electronics had a return on equity of 16.85% and a net margin of 4.05%. Universal Electronics’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.91 EPS. Universal Electronics updated its Q1 guidance to $0.57-0.67 EPS.
Shares of Universal Electronics (NASDAQ:UEIC) traded down 1.02% during trading on Thursday, hitting $63.10. The company had a trading volume of 68,576 shares. The stock has a market capitalization of $919.49 million, a P/E ratio of 35.02 and a beta of 1.78. The firm’s 50 day moving average is $64.07 and its 200-day moving average is $69.53. Universal Electronics has a 52 week low of $49.26 and a 52 week high of $80.42.
A number of brokerages recently weighed in on UEIC. B. Riley raised Universal Electronics from a “neutral” rating to a “buy” rating and set a $73.50 price objective on the stock in a report on Monday, November 7th. Zacks Investment Research raised Universal Electronics from a “sell” rating to a “hold” rating in a report on Wednesday, January 11th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Universal Electronics presently has a consensus rating of “Buy” and a consensus price target of $74.92.
In other Universal Electronics news, EVP Paul J. Bennett sold 44,512 shares of the business’s stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $65.19, for a total transaction of $2,901,737.28. Following the completion of the sale, the executive vice president now owns 46,283 shares of the company’s stock, valued at $3,017,188.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Richard A. Firehammer, Jr. sold 753 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $70.30, for a total value of $52,935.90. The disclosure for this sale can be found here. Insiders have sold 55,265 shares of company stock valued at $3,631,373 in the last three months. 5.82% of the stock is currently owned by corporate insiders.
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Universal Electronics Company Profile
Universal Electronics Inc (UEI) develops control and sensor technology solutions and manufactures a line of pre-programmed and universal remote control products, audio-video (AV) accessories, and intelligent wireless security and automation components. The Company’s offerings include pre-programmed universal infrared (IR) and radio frequency (RF) remote controls that are sold primarily to subscription broadcasting providers, original equipment manufacturers (OEMs), retailers, and private label customers, and integrated circuits, on which its software and universal device control database is embedded, sold primarily to OEMs, subscription broadcasting providers, and private label customers.
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