STMicroelectronics (NYSE:STM) Announces Earnings Results, Misses Expectations By $0.05 EPS

STMicroelectronics (NYSE:STM) issued its earnings results on Thursday. The semiconductor producer reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.05), Briefing.com reports. STMicroelectronics had a net margin of 24.36% and a return on equity of 27.70%. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.61 billion. During the same quarter in the prior year, the company earned $1.10 EPS. STMicroelectronics’s quarterly revenue was down 18.4% on a year-over-year basis. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

STMicroelectronics Trading Down 3.0 %

NYSE:STM traded down $1.29 during trading hours on Friday, hitting $41.31. The company had a trading volume of 2,504,407 shares, compared to its average volume of 3,633,146. The company has a current ratio of 3.17, a quick ratio of 2.44 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $43.83 and a 200 day moving average of $44.58. The company has a market cap of $37.29 billion, a P/E ratio of 9.30, a P/E/G ratio of 2.82 and a beta of 1.69. STMicroelectronics has a 1 year low of $37.21 and a 1 year high of $55.85.

STMicroelectronics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Tuesday, June 25th will be issued a $0.09 dividend. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. This represents a $0.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Tuesday, June 25th. STMicroelectronics’s dividend payout ratio is presently 4.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STM. Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday. Susquehanna reissued a “positive” rating and issued a $55.00 price target on shares of STMicroelectronics in a report on Monday, April 8th. StockNews.com downgraded STMicroelectronics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. William Blair reaffirmed a “market perform” rating on shares of STMicroelectronics in a research note on Friday. Finally, HSBC initiated coverage on STMicroelectronics in a research note on Thursday, February 22nd. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, STMicroelectronics has a consensus rating of “Moderate Buy” and an average price target of $50.75.

STMicroelectronics Company Profile

STMicroelectronics N.V., together with its subsidiaries, designs, develops, manufactures, and sells semiconductor products in Europe, the Middle East, Africa, the Americas, and the Asia Pacific. The company operates through Automotive and Discrete Group; Analog, MEMS and Sensors Group; and Microcontrollers and Digital ICs Group segments.