Motorola Solutions (NYSE:MSI) Releases Q2 2024 Earnings Guidance

Motorola Solutions (NYSE:MSI - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Friday morning. The company provided EPS guidance of 2.970-3.020 for the period, compared to the consensus EPS estimate of 2.910. The company issued revenue guidance of $2.6 billion-$2.6 billion, compared to the consensus revenue estimate of $2.5 billion. Motorola Solutions also updated its FY 2024 guidance to 12.980-13.080 EPS.

Motorola Solutions Trading Up 5.2 %

NYSE:MSI traded up $17.42 during trading hours on Friday, reaching $353.66. 1,151,472 shares of the company were exchanged, compared to its average volume of 661,346. The firm has a market cap of $58.75 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 3.10 and a beta of 0.91. The stock has a 50 day simple moving average of $342.91 and a 200 day simple moving average of $323.39. Motorola Solutions has a 52-week low of $269.64 and a 52-week high of $356.17. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.00 and a quick ratio of 0.85.

Motorola Solutions (NYSE:MSI - Get Free Report) last announced its quarterly earnings results on Thursday, February 8th. The communications equipment provider reported $3.90 EPS for the quarter, topping the consensus estimate of $3.63 by $0.27. The company had revenue of $2.85 billion during the quarter, compared to analyst estimates of $2.82 billion. Motorola Solutions had a return on equity of 441.65% and a net margin of 17.12%. The firm's revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $3.38 earnings per share. As a group, analysts predict that Motorola Solutions will post 11.74 EPS for the current year.

Motorola Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.11%. Motorola Solutions's payout ratio is 39.48%.

Analyst Ratings Changes

A number of research analysts have commented on the company. William Blair restated an outperform rating on shares of Motorola Solutions in a research note on Friday, February 9th. Barclays increased their price objective on shares of Motorola Solutions from $362.00 to $372.00 and gave the stock an overweight rating in a research note on Friday. JPMorgan Chase & Co. lifted their target price on Motorola Solutions from $400.00 to $405.00 and gave the company an overweight rating in a research note on Friday. Deutsche Bank Aktiengesellschaft initiated coverage on Motorola Solutions in a research note on Friday, January 19th. They set a buy rating and a $350.00 price objective for the company. Finally, StockNews.com upgraded Motorola Solutions from a hold rating to a buy rating in a research note on Monday, February 12th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $351.50.

Insider Buying and Selling

In other Motorola Solutions news, SVP Cynthia Yazdi sold 4,744 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $334.30, for a total value of $1,585,919.20. Following the completion of the sale, the senior vice president now directly owns 8,858 shares of the company's stock, valued at approximately $2,961,229.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

Motorola Solutions Company Profile

Motorola Solutions, Inc provides public safety and enterprise security solutions in the United States, the United Kingdom, Canada, and internationally. The company operates in two segments, Products and Systems Integration, and Software and Services. The Products and Systems Integration segment offers a portfolio of infrastructure, devices, accessories, and video security devices and infrastructure, as well as the implementation and integration of systems, devices, software, and applications for government, public safety, and commercial customers who operate private communications networks and video security solutions, as well as manage a mobile workforce.