Veralto (NYSE:VLTO) Updates Q2 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.750-0.800 for the period, compared to the consensus earnings per share estimate of 0.800. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Price Performance

Shares of VLTO stock traded down $1.63 on Wednesday, hitting $92.09. 2,050,624 shares of the stock were exchanged, compared to its average volume of 1,604,671. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The business has a 50-day moving average of $88.06 and a 200 day moving average of $80.05. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $95.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue was up 1.7% compared to the same quarter last year. Equities analysts expect that Veralto will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.39%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on VLTO shares. Argus started coverage on Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price target for the company. Royal Bank of Canada lifted their target price on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research note on Thursday, February 8th. BMO Capital Markets assumed coverage on Veralto in a research note on Tuesday, February 27th. They set an outperform rating and a $97.00 target price for the company. Stifel Nicolaus lifted their target price on Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Finally, Citigroup lifted their target price on Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Veralto currently has an average rating of Moderate Buy and an average price target of $93.36.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.