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In the latest trading session, Resideo Technologies (REZI) closed at $27.71, marking a -1.11% move from the previous day. This change lagged the S&P 500's daily loss of 0.55%. At the same time, the Dow lost 0.01%, and the tech-heavy Nasdaq lost 2.01%.
Heading into today, shares of the residential comfort and security systems maker had gained 0.79% over the past month, lagging the Industrial Products sector's gain of 19.87% and the S&P 500's gain of 0.84% in that time.
Investors will be hoping for strength from REZI as it approaches its next earnings release. On that day, REZI is projected to report earnings of $0.64 per share, which would represent year-over-year growth of 166.67%. Our most recent consensus estimate is calling for quarterly revenue of $1.33 billion, up 13.17% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.72 per share and revenue of $5.33 billion, which would represent changes of +66.87% and +5.17%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for REZI. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 22.17% higher within the past month. REZI currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, REZI is currently trading at a Forward P/E ratio of 10.31. This valuation marks a discount compared to its industry's average Forward P/E of 23.91.
The Security and Safety Services industry is part of the Industrial Products sector. This industry currently has a Zacks Industry Rank of 94, which puts it in the top 37% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Resideo Technologies, Inc. (REZI) : Free Stock Analysis Report
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