SmartRent FY2024 EPS Forecast Boosted by Colliers Securities

SmartRent, Inc. (NYSE:SMRT) – Colliers Securities lifted their FY2024 earnings per share (EPS) estimates for SmartRent in a research note issued to investors on Sunday, February 2nd. Colliers Securities analyst B. Oxford now forecasts that the company will post earnings of ($0.15) per share for the year, up from their previous estimate of ($0.17). The consensus estimate for SmartRent’s current full-year earnings is ($0.14) per share. Colliers Securities also issued estimates for SmartRent’s FY2025 earnings at ($0.17) EPS.

SmartRent (NYSE:SMRT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). SmartRent had a negative net margin of 12.77% and a negative return on equity of 6.08%. The business had revenue of $40.50 million during the quarter, compared to analyst estimates of $45.94 million. During the same period last year, the firm posted ($0.04) earnings per share. SmartRent’s quarterly revenue was down 30.3% compared to the same quarter last year.

SmartRent Price Performance

Shares of SMRT opened at $1.47 on Wednesday. SmartRent has a 52-week low of $1.17 and a 52-week high of $3.12. The business’s 50 day moving average price is $1.67 and its two-hundred day moving average price is $1.70.

Insider Activity

In other news, Director Frank Martell acquired 50,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was purchased at an average price of $1.49 per share, for a total transaction of $74,500.00. Following the completion of the acquisition, the director now directly owns 200,000 shares in the company, valued at $298,000. The trade was a 33.33 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On SmartRent

Institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC bought a new stake in SmartRent during the third quarter worth $26,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of SmartRent during the 3rd quarter worth $30,000. Avior Wealth Management LLC bought a new position in SmartRent in the 4th quarter worth about $31,000. Algert Global LLC bought a new position in SmartRent in the 2nd quarter worth about $42,000. Finally, SteelPeak Wealth LLC bought a new position in SmartRent in the 4th quarter worth about $34,000. Institutional investors own 59.42% of the company’s stock.

About SmartRent

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company’s products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.