Stock To Watch: Resideo Technologies

Technology Sector Update for 10/14/2019: YNDX, GOOG, GOOGL, DOX, MSFT, AAPL, IBM, CSCO

(RTTNews) – Shares of home comfort and security solutions provider Resideo Technologies, Inc. (REZI) are down 3.62% on Wednesday at $10.80, close to its 52-week low of $8.60.

Resideo has been in an acquisition spree after its spin-off from Honeywell in October 2018. In June last year, it had acquired LifeWhere, which uses machine learning and analytics to predict potential failure on critical home appliances, such as water heaters, furnaces, and air conditioners. Whisker Labs’ innovative energy efficiency technology and the team behind it was acquired in May last year and it also bought Buoy Labs, a Wi-Fi enabled solution that tracks the amount of water used in a home, in March last year.

When the company reported third-quarter earnings in November last year, revenue was $1.23 billion, up 2% year-over-year. Adjusted EPS, however, decreased to $0.19 from $0.59 last year.

For the full-year, the company expects revenue growth of 2% to 4%. This compares with 2.90% expected by the analysts.

Fourth-quarter earnings results are expected to be reported on March 5.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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