Zebra Technologies (NASDAQ:ZBRA) Updates FY 2024 Earnings Guidance

Zebra Technologies (NASDAQ:ZBRA) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 11.250-12.250 for the period, compared to the consensus estimate of 11.120. The company issued revenue guidance of $4.6 billion-$4.8 billion, compared to the consensus revenue estimate of $4.7 billion. Zebra Technologies also updated its FY24 guidance to $11.25-$12.25 EPS.

Zebra Technologies Stock Performance

ZBRA stock traded down $3.12 during midday trading on Friday, reaching $309.59. 475,223 shares of the company’s stock traded hands, compared to its average volume of 391,173. The firm has a market capitalization of $15.91 billion, a PE ratio of 61.43 and a beta of 1.76. The company has a 50-day moving average price of $289.78 and a two-hundred day moving average price of $258.13. Zebra Technologies has a 52 week low of $194.59 and a 52 week high of $322.95. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.54 and a current ratio of 0.99.

Zebra Technologies (NASDAQ:ZBRA) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.13 by $0.71. Zebra Technologies had a return on equity of 13.05% and a net margin of 5.99%. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business posted $3.59 earnings per share. The company’s revenue was down 16.4% on a year-over-year basis. As a group, equities analysts anticipate that Zebra Technologies will post 9.76 EPS for the current year.

Analyst Upgrades and Downgrades

ZBRA has been the subject of a number of research reports. Wolfe Research raised shares of Zebra Technologies from a peer perform rating to an outperform rating and set a $337.00 price target for the company in a research note on Monday, April 8th. Stephens increased their target price on Zebra Technologies from $335.00 to $380.00 and gave the company an overweight rating in a research note on Wednesday. UBS Group lifted their price target on Zebra Technologies from $340.00 to $368.00 and gave the stock a buy rating in a research note on Wednesday. Robert W. Baird increased their price objective on Zebra Technologies from $312.00 to $330.00 and gave the company an outperform rating in a research report on Wednesday. Finally, Barclays started coverage on Zebra Technologies in a report on Tuesday, April 2nd. They set an equal weight rating and a $292.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Zebra Technologies currently has a consensus rating of Hold and a consensus target price of $310.64.

Insiders Place Their Bets

In other news, CAO Colleen M. O’sullivan sold 135 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $279.36, for a total transaction of $37,713.60. Following the sale, the chief accounting officer now owns 5,543 shares in the company, valued at approximately $1,548,492.48. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.06% of the company’s stock.

About Zebra Technologies

Zebra Technologies Corporation, together with its subsidiaries, provides enterprise asset intelligence solutions in the automatic identification and data capture solutions industry worldwide. It operates in two segments, Asset Intelligence & Tracking, and Enterprise Visibility & Mobility. The company designs, manufactures, and sells printers that produce labels, wristbands, tickets, receipts, and plastic cards; dye-sublimination thermal card printers that produce images, which are used for personal identification, access control, and financial transactions; radio frequency identification device (RFID) printers that encode data into passive RFID transponders; accessories and options for printers, including carrying cases, vehicle mounts, and battery chargers; stock and customized thermal labels, receipts, ribbons, plastic cards, and RFID tags for printers; and temperature-monitoring labels primarily used in vaccine distribution.