ADT (NYSE:ADT) Releases FY24 Earnings Guidance

ADT (NYSE:ADT) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.60-0.70 for the period, compared to the consensus estimate of $0.65. ADT also updated its FY 2024 guidance to 0.600-0.700 EPS.

ADT Stock Up 1.6 %

Shares of ADT stock traded up $0.10 during trading hours on Friday, reaching $6.43. The company had a trading volume of 4,339,250 shares, compared to its average volume of 5,175,475. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.52 and a current ratio of 0.68. ADT has a twelve month low of $4.89 and a twelve month high of $7.60. The company has a market capitalization of $5.93 billion, a P/E ratio of 12.76 and a beta of 1.57. The stock’s fifty day simple moving average is $6.61 and its 200 day simple moving average is $6.44.

ADT (NYSE:ADT) last issued its quarterly earnings results on Wednesday, February 28th. The security and automation business reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. ADT had a return on equity of 14.85% and a net margin of 8.69%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the business posted $0.08 earnings per share. ADT’s revenue for the quarter was down 27.1% on a year-over-year basis. As a group, sell-side analysts expect that ADT will post 0.67 earnings per share for the current fiscal year.

ADT Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Thursday, June 13th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 3.42%. The ex-dividend date is Thursday, June 13th. ADT’s dividend payout ratio is currently 44.00%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Barclays lowered their price target on ADT from $8.00 to $7.00 and set an underweight rating on the stock in a research report on Friday, March 22nd. The Goldman Sachs Group lifted their price target on ADT from $7.50 to $8.30 and gave the company a buy rating in a research report on Thursday, February 29th.

About ADT

ADT Inc provides security, interactive, and smart home solutions to residential and small business customers in the United States. It operates through two segments, Consumer and Small Business, and Solar. The company provides burglar and life safety alarms, smart security cameras, smart home automation systems, and video surveillance systems.