STMicroelectronics (NYSE:STM) Issues Earnings Results

by · The Markets Daily

STMicroelectronics (NYSE:STM – Get Free Report) issued its quarterly earnings data on Thursday. The semiconductor producer reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04, Briefing.com reports. STMicroelectronics had a net margin of 16.11% and a return on equity of 13.44%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.27 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The company’s revenue was down 26.6% compared to the same quarter last year. STMicroelectronics updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

STMicroelectronics Stock Down 1.7 %

STM stock opened at $26.67 on Friday. The company has a current ratio of 3.35, a quick ratio of 2.56 and a debt-to-equity ratio of 0.17. The firm has a 50-day moving average of $28.67 and a two-hundred day moving average of $35.39. STMicroelectronics has a 12 month low of $26.44 and a 12 month high of $51.27. The company has a market cap of $24.09 billion, a price-to-earnings ratio of 10.98, a PEG ratio of 3.36 and a beta of 1.58.

STMicroelectronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 17th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.36 annualized dividend and a yield of 1.35%. STMicroelectronics’s dividend payout ratio is presently 12.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Susquehanna lowered their price target on STMicroelectronics from $35.00 to $33.00 and set a “positive” rating on the stock in a research report on Friday. Robert W. Baird decreased their target price on STMicroelectronics from $35.00 to $30.00 and set a “neutral” rating on the stock in a research report on Friday. Morgan Stanley cut shares of STMicroelectronics from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 26th. Citigroup upgraded shares of STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, Craig Hallum dropped their target price on shares of STMicroelectronics from $42.00 to $36.00 and set a “buy” rating on the stock in a research report on Thursday. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.63.

Check Out Our Latest Research Report on STM

STMicroelectronics Company Profile

(Get Free Report)

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.

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