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 %

VLTO traded down $0.86 on Wednesday, hitting $110.93. 1,344,019 shares of the company were exchanged, compared to its average volume of 1,549,735. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.70 and a current ratio of 1.96. The firm has a fifty day simple moving average of $110.91 and a two-hundred day simple moving average of $102.60. The stock has a market capitalization of $27.38 billion and a PE ratio of 34.77. Veralto has a 12 month low of $65.51 and a 12 month high of $114.61.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.05. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm posted $0.80 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Veralto will post 3.46 earnings per share for the current year.

Veralto Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on VLTO shares. Royal Bank of Canada lifted their target price on shares of Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research note on Monday, July 29th. UBS Group initiated coverage on Veralto in a research report on Tuesday, August 13th. They issued a “neutral” rating and a $118.00 target price for the company. Deutsche Bank Aktiengesellschaft lifted their price target on Veralto from $100.00 to $109.00 and gave the company a “hold” rating in a research report on Monday, July 29th. BMO Capital Markets increased their price objective on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a report on Monday, September 30th. Finally, Robert W. Baird boosted their target price on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $108.00.

Insider Buying and Selling at Veralto

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