STMicroelectronics (NYSE:STM) Issues Quarterly Earnings Results, Misses Estimates By $0.05 EPS

STMicroelectronics (NYSE:STM) posted its quarterly earnings data on Thursday. The semiconductor producer reported $0.54 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.05), Briefing.com reports. The company had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.61 billion. STMicroelectronics had a net margin of 22.30% and a return on equity of 23.52%. The firm’s revenue was down 18.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.10 earnings per share. STMicroelectronics updated its FY 2024 guidance to EPS and its Q2 2024 guidance to EPS.

STMicroelectronics Stock Performance

STM opened at $41.34 on Friday. STMicroelectronics has a 52-week low of $37.21 and a 52-week high of $55.85. The firm has a market capitalization of $37.32 billion, a PE ratio of 10.60, a PEG ratio of 2.85 and a beta of 1.69. The business’s 50-day simple moving average is $43.75 and its 200 day simple moving average is $44.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.44 and a current ratio of 3.17.

STMicroelectronics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Tuesday, June 25th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Tuesday, June 25th. This is a boost from STMicroelectronics’s previous quarterly dividend of $0.06. STMicroelectronics’s dividend payout ratio is 5.13%.

Wall Street Analysts Forecast Growth

STM has been the subject of several recent analyst reports. StockNews.com cut shares of STMicroelectronics from a “buy” rating to a “hold” rating in a research note on Friday. HSBC started coverage on shares of STMicroelectronics in a report on Thursday, February 22nd. They set a “buy” rating on the stock. Berenberg Bank raised STMicroelectronics from a “hold” rating to a “buy” rating in a report on Tuesday. William Blair reaffirmed a “market perform” rating on shares of STMicroelectronics in a research note on Friday. Finally, Craig Hallum dropped their price target on STMicroelectronics from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $50.75.

About STMicroelectronics

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.