ADT (NYSE:ADT) Releases FY 2024 Earnings Guidance

ADT (NYSE:ADT) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.700-0.750 for the period, compared to the consensus estimate of 0.690. The company issued revenue guidance of $4.9 billion-$5.0 billion, compared to the consensus revenue estimate of $4.9 billion. ADT also updated its FY24 guidance to $0.70-0.75 EPS.

ADT Price Performance

Shares of NYSE ADT traded down $0.26 during midday trading on Friday, reaching $7.88. The company’s stock had a trading volume of 14,797,585 shares, compared to its average volume of 5,099,404. ADT has a one year low of $5.53 and a one year high of $8.25. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 11.26 and a beta of 1.53. The company has a 50 day moving average price of $7.19 and a 200 day moving average price of $7.16. The company has a current ratio of 0.75, a quick ratio of 0.59 and a debt-to-equity ratio of 1.98.

ADT (NYSE:ADT) last posted its quarterly earnings results on Thursday, October 24th. The security and automation business reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ADT had a return on equity of 15.45% and a net margin of 13.83%. The firm’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 earnings per share. On average, equities research analysts expect that ADT will post 0.62 EPS for the current year.

ADT Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Thursday, December 12th will be paid a $0.055 dividend. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $0.22 dividend on an annualized basis and a yield of 2.79%. ADT’s dividend payout ratio is currently 31.43%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group lifted their target price on shares of ADT from $8.20 to $9.20 and gave the stock a “buy” rating in a research report on Friday. Royal Bank of Canada boosted their target price on shares of ADT from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Friday.

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.