Colliers Securities Weighs in on SmartRent FY2025 Earnings

SmartRent, Inc. (NYSE:SMRT - Free Report) - Equities researchers at Colliers Securities cut their FY2025 earnings per share (EPS) estimates for SmartRent in a report issued on Tuesday, May 20th. Colliers Securities analyst B. Oxford now forecasts that the company will post earnings of ($0.32) per share for the year, down from their prior forecast of ($0.09). The consensus estimate for SmartRent's current full-year earnings is ($0.14) per share. Colliers Securities also issued estimates for SmartRent's FY2026 earnings at ($0.14) EPS.

SmartRent (NYSE:SMRT - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.03). SmartRent had a negative return on equity of 6.08% and a negative net margin of 12.77%. The business had revenue of $41.34 million for the quarter, compared to analyst estimates of $40.10 million.

SMRT has been the subject of a number of other research reports. Keefe, Bruyette & Woods dropped their price objective on shares of SmartRent from $1.60 to $1.30 and set a "market perform" rating for the company in a report on Thursday, May 8th. Cantor Fitzgerald upgraded shares of SmartRent to a "hold" rating in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $2.33.

SmartRent Stock Down 2.9%

Shares of SMRT traded down $0.02 during midday trading on Friday, reaching $0.79. The company had a trading volume of 1,638,104 shares, compared to its average volume of 1,568,484. SmartRent has a 1-year low of $0.67 and a 1-year high of $2.61. The firm has a 50 day simple moving average of $0.95 and a 200-day simple moving average of $1.33. The stock has a market cap of $148.77 million, a PE ratio of -6.08 and a beta of 1.86.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in shares of SmartRent by 250.0% in the third quarter. JPMorgan Chase & Co. now owns 288,176 shares of the company's stock valued at $499,000 after acquiring an additional 205,843 shares during the period. SG Americas Securities LLC increased its holdings in shares of SmartRent by 18.6% in the 4th quarter. SG Americas Securities LLC now owns 106,992 shares of the company's stock valued at $187,000 after acquiring an additional 16,745 shares during the period. Avior Wealth Management LLC purchased a new stake in SmartRent in the 4th quarter valued at $31,000. SteelPeak Wealth LLC acquired a new stake in SmartRent during the 4th quarter worth $34,000. Finally, Crossingbridge Advisors LLC acquired a new stake in SmartRent during the 4th quarter worth $569,000. Hedge funds and other institutional investors own 59.42% of the company's stock.

Insider Buying and Selling at SmartRent

In other news, CEO Michael Shane Paladin bought 43,859 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were acquired at an average price of $1.14 per share, for a total transaction of $49,999.26. Following the completion of the transaction, the chief executive officer now owns 43,859 shares of the company's stock, valued at approximately $49,999.26. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John C. Dorman bought 125,000 shares of SmartRent stock in a transaction dated Monday, March 10th. The stock was purchased at an average cost of $1.20 per share, with a total value of $150,000.00. Following the completion of the acquisition, the director now directly owns 229,965 shares in the company, valued at approximately $275,958. The trade was a 119.09% increase in their position. The disclosure for this purchase can be found here. 1.90% of the stock is currently owned by insiders.

SmartRent declared that its board has approved a share repurchase plan on Wednesday, May 7th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 27.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

About SmartRent

SmartRent, Inc, an enterprise software company, provides an integrated smart home operating system to residential property owners and operators, homebuilders, institutional home buyers, developers, and residents in the United States. The company's products and solutions include smart apartments and homes, access control for buildings, common areas, and rental units, asset protection and monitoring, parking management, self-guided tours, and community and resident Wi-Fi.