Veralto (NYSE:VLTO) Releases FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.440-3.480 for the period, compared to the consensus earnings per share estimate of 3.450. The company issued revenue guidance of -. Veralto also updated its Q4 guidance to $0.86-0.90 EPS.

Veralto Trading Down 0.8 %

Shares of VLTO traded down $0.86 during trading hours on Wednesday, hitting $110.93. 1,344,019 shares of the stock were exchanged, compared to its average volume of 1,549,735. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $114.61. The business has a 50-day moving average of $110.91 and a 200-day moving average of $102.60. The firm has a market capitalization of $27.38 billion and a P/E ratio of 34.77. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70.

Veralto (NYSE:VLTO) last issued its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.80 earnings per share. On average, research analysts expect that Veralto will post 3.46 EPS for the current year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s payout ratio is currently 11.29%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on VLTO shares. BMO Capital Markets boosted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. UBS Group initiated coverage on Veralto in a report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. TD Cowen lifted their price target on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a report on Tuesday, July 30th. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus boosted their price target on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Veralto has an average rating of “Hold” and a consensus price target of $108.00.

Insider Buying and Selling at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Surekha Trivedi sold 753 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $106.72, for a total transaction of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at approximately $1,352,249.12. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Mattias Bystrom sold 3,000 shares of Veralto stock in a transaction on Monday, July 29th. The stock was sold at an average price of $105.89, for a total transaction of $317,670.00. Following the sale, the senior vice president now directly owns 31,045 shares of the company’s stock, valued at $3,287,355.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock valued at $4,310,335 in the last three months. Company 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.