Veralto (NYSE:VLTO) Releases FY24 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $3.37-3.45 for the period, compared to the consensus earnings per share estimate of $3.33. Veralto also updated its FY 2024 guidance to 3.370-3.450 EPS.

Analysts Set New Price Targets

Several research firms recently weighed in on VLTO. Citigroup upped their price target on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research report on Monday, April 8th. Stifel Nicolaus upped their price target on Veralto from $100.00 to $110.00 and gave the company a buy rating in a research report on Thursday, July 18th. BMO Capital Markets upped their price target on Veralto from $97.00 to $101.00 and gave the company an outperform rating in a research report on Thursday, April 25th. Robert W. Baird upped their price target on Veralto from $90.00 to $98.00 and gave the company a neutral rating in a research report on Thursday, April 25th. Finally, Royal Bank of Canada reissued a sector perform rating and set a $101.00 price target on shares of Veralto in a research report on Friday, June 14th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Veralto has a consensus rating of Moderate Buy and an average price target of $97.08.

Veralto Stock Up 5.3 %

Shares of VLTO stock traded up $5.26 during trading on Friday, reaching $104.87. The company had a trading volume of 2,971,930 shares, compared to its average volume of 1,581,389. The firm’s 50 day simple moving average is $98.99 and its two-hundred day simple moving average is $90.99. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. Veralto has a one year low of $65.51 and a one year high of $107.86.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the business posted $0.80 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Veralto will post 3.37 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Insider Buying and Selling at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was 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 approximately $3,417,437.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.31% of the company’s stock.

About Veralto

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.