Veralto (NYSE:VLTO) Issues Q3 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.820-0.860 for the period, compared to the consensus estimate of 0.830. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.370-3.450 EPS.

Veralto Trading Up 5.3 %

Shares of NYSE:VLTO traded up $5.26 during trading on Friday, reaching $104.87. The stock had a trading volume of 2,971,930 shares, compared to its average volume of 1,581,389. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. Veralto has a 52 week low of $65.51 and a 52 week high of $107.86. The stock has a fifty day simple moving average of $98.99 and a two-hundred day simple moving average of $90.99.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.81 by $0.04. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company earned $0.80 EPS. The company’s revenue was up 2.8% on a year-over-year basis. On average, research analysts predict that Veralto will post 3.37 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 annualized dividend and a yield of 0.34%.

Analysts Set New Price Targets

Several equities research analysts have commented on VLTO shares. TD Cowen initiated coverage on Veralto in a research note on Monday, June 17th. They issued a hold rating and a $95.00 target price on the stock. Robert W. Baird upped their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a research report on Thursday, April 25th. BMO Capital Markets raised their price objective on Veralto from $97.00 to $101.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Citigroup raised their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Finally, Stifel Nicolaus upped their price objective on Veralto from $100.00 to $110.00 and gave the company a buy rating in a report on Thursday, July 18th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $97.08.

Insider Activity

In other news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the sale, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.31% of the company’s stock.

Veralto Company Profile

Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.