STMicroelectronics (STM) to Release Earnings on Thursday

STMicroelectronics (NYSE:STM) is projected to announce its earnings results before the market opens on Thursday, January 30th. Analysts expect the company to announce earnings of $0.35 per share and revenue of $3.31 billion for the quarter. STMicroelectronics has set its FY 2024 guidance at EPS and its Q4 2024 guidance at EPS.Investors that are interested in participating in the company’s conference call can do so using this link.

STMicroelectronics (NYSE:STM) last released its quarterly earnings data on Thursday, October 31st. The semiconductor producer reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.04. The firm had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.27 billion. STMicroelectronics had a return on equity of 13.29% and a net margin of 16.11%. The firm’s revenue was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, analysts expect STMicroelectronics to post $2 EPS for the current fiscal year and $1 EPS for the next fiscal year.

STMicroelectronics Price Performance

NYSE STM opened at $24.58 on Wednesday. The company has a 50 day moving average price of $25.36 and a two-hundred day moving average price of $28.34. STMicroelectronics has a 12-month low of $23.66 and a 12-month high of $49.05. The stock has a market capitalization of $22.20 billion, a PE ratio of 10.11, a price-to-earnings-growth ratio of 4.48 and a beta of 1.52. The company has a quick ratio of 2.16, a current ratio of 2.84 and a debt-to-equity ratio of 0.12.

STMicroelectronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 25th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Tuesday, March 25th. STMicroelectronics’s dividend payout ratio is presently 12.76%.

Analyst Ratings Changes

A number of analysts have weighed in on STM shares. Citigroup raised STMicroelectronics to a “strong-buy” rating in a research report on Thursday, October 10th. Craig Hallum decreased their target price on STMicroelectronics from $42.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Morgan Stanley lowered shares of STMicroelectronics from an “equal weight” rating to an “underweight” rating in a research report on Monday, November 4th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of STMicroelectronics in a research note on Monday, December 9th. Finally, BNP Paribas initiated coverage on shares of STMicroelectronics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $28.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $34.11.

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.