Motorola Solutions (NYSE:MSI) Issues FY24 Earnings Guidance

Motorola Solutions (NYSE:MSI) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $12.98-13.08 for the period, compared to the consensus EPS estimate of $12.73. The company issued revenue guidance of ~$10.68 billion, compared to the consensus revenue estimate of $10.59 billion. Motorola Solutions also updated its Q2 guidance to $2.97-3.02 EPS.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Motorola Solutions in a report on Friday, January 19th. They issued a buy rating and a $350.00 target price on the stock. Barclays lifted their price target on Motorola Solutions from $362.00 to $372.00 and gave the stock an overweight rating in a report on Friday. StockNews.com upgraded Motorola Solutions from a hold rating to a buy rating in a report on Monday, February 12th. Evercore ISI started coverage on Motorola Solutions in a report on Monday, March 25th. They set an outperform rating and a $400.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on Motorola Solutions from $400.00 to $405.00 and gave the stock an overweight rating in a report on Friday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Motorola Solutions has an average rating of Moderate Buy and a consensus target price of $351.50.

Motorola Solutions Stock Performance

Shares of NYSE MSI traded up $17.46 during mid-day trading on Friday, hitting $353.70. The company had a trading volume of 1,151,473 shares, compared to its average volume of 724,940. The company has a market capitalization of $58.76 billion, a price-to-earnings ratio of 43.72, a P/E/G ratio of 3.27 and a beta of 0.91. Motorola Solutions has a 1 year low of $269.64 and a 1 year high of $356.17. The company has a current ratio of 1.00, a quick ratio of 0.85 and a debt-to-equity ratio of 6.37. The stock’s 50-day moving average price is $343.38 and its 200-day moving average price is $324.30.

Motorola Solutions (NYSE:MSI) last posted its earnings results on Thursday, February 8th. The communications equipment provider reported $3.90 EPS for the quarter, topping the consensus estimate of $3.63 by $0.27. Motorola Solutions had a return on equity of 408.01% and a net margin of 13.64%. The business had revenue of $2.85 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the previous year, the business earned $3.38 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Motorola Solutions will post 11.74 earnings per share for the current year.

Motorola Solutions Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $0.98 per share. This represents a $3.92 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend was Thursday, March 14th. Motorola Solutions’s payout ratio is 48.45%.

Insider Buying and Selling

In other Motorola Solutions news, SVP Cynthia Yazdi sold 4,744 shares of Motorola Solutions stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $334.30, for a total transaction of $1,585,919.20. Following the completion of the sale, the senior vice president now owns 8,858 shares of the company’s stock, valued at $2,961,229.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.50% of the stock is owned by company insiders.

About Motorola Solutions

Motorola Solutions, Inc provides public safety and enterprise security solutions in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and Services. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video security devices and infrastructure, as well as the implementation and integration of systems, devices, software, and applications for government, public safety, and commercial customers who operate private communications networks and video security solutions, as well as manage a mobile workforce.