Zacks: Brokerages Expect Universal Electronics Inc (NASDAQ:UEIC) Will Post Quarterly Sales of $191.50 Million

Equities research analysts expect Universal Electronics Inc (NASDAQ:UEIC) to report $191.50 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Universal Electronics’ earnings, with the lowest sales estimate coming in at $191.15 million and the highest estimate coming in at $191.85 million. Universal Electronics reported sales of $182.72 million in the same quarter last year, which indicates a positive year-over-year growth rate of 4.8%. The company is scheduled to report its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Universal Electronics will report full-year sales of $740.27 million for the current fiscal year, with estimates ranging from $730.95 million to $749.59 million. For the next fiscal year, analysts expect that the company will post sales of $777.42 million, with estimates ranging from $774.80 million to $780.03 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Universal Electronics.

Universal Electronics (NASDAQ:UEIC) last posted its earnings results on Thursday, August 8th. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.72 by $0.11. The firm had revenue of $193.90 million for the quarter, compared to analysts’ expectations of $178.11 million. Universal Electronics had a negative return on equity of 6.11% and a negative net margin of 2.22%.

A number of brokerages have issued reports on UEIC. Sidoti raised Universal Electronics from a “neutral” rating to a “buy” rating and increased their price target for the company from $41.00 to $48.00 in a research note on Monday, June 10th. Zacks Investment Research lowered Universal Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 14th. BidaskClub raised Universal Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, August 3rd. B. Riley set a $53.00 price objective on Universal Electronics and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, ValuEngine lowered Universal Electronics from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $50.00.

In other news, Director William C. Mulligan sold 7,811 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $44.84, for a total value of $350,245.24. Following the completion of the sale, the director now owns 23,153 shares of the company’s stock, valued at $1,038,180.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David Cheung Hyen Chong sold 2,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $41.05, for a total value of $82,100.00. Following the completion of the sale, the insider now directly owns 13,719 shares of the company’s stock, valued at approximately $563,164.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 22,311 shares of company stock valued at $1,001,595. 7.09% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Zions Bancorporation N.A. purchased a new stake in shares of Universal Electronics during the first quarter worth $41,000. Bank of Montreal Can raised its holdings in Universal Electronics by 1,037.0% during the second quarter. Bank of Montreal Can now owns 1,228 shares of the technology company’s stock valued at $51,000 after buying an additional 1,120 shares in the last quarter. First Quadrant L P CA bought a new position in Universal Electronics during the second quarter valued at about $62,000. Manchester Capital Management LLC bought a new position in Universal Electronics during the first quarter valued at about $57,000. Finally, BNP Paribas Arbitrage SA raised its holdings in Universal Electronics by 141.2% during the first quarter. BNP Paribas Arbitrage SA now owns 3,514 shares of the technology company’s stock valued at $131,000 after buying an additional 2,057 shares in the last quarter.

NASDAQ UEIC traded down $2.11 on Tuesday, reaching $42.92. 78,588 shares of the stock traded hands, compared to its average volume of 101,753. The firm’s fifty day simple moving average is $42.68 and its 200 day simple moving average is $38.47. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.83 and a current ratio of 1.34. Universal Electronics has a 12 month low of $23.29 and a 12 month high of $48.86.

About Universal Electronics

Universal Electronics Inc develops and manufactures pre-programmed and universal control products, audio-video (AV) accessories, software and intelligent wireless security products, and sensing and automation components for home entertainment and automation systems. The company offers universal infrared and radio frequency (RF) remote controls; integrated circuits on which its software and universal device control database is embedded; and software, firmware, and technology solutions that enable devices, including televisions, set-top boxes, audio systems, smartphones, tablets, game controllers, and other consumer electronic devices to wirelessly connect and interact with home networks, as well as interactive services to control and deliver digital entertainment and information.

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