Vertiv (NYSE:VRT) Issues FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.290-2.350 for the period, compared to the consensus EPS estimate of 2.300. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Vertiv also updated its FY24 guidance to $2.29-2.35 EPS.

Vertiv Trading Up 6.8 %

NYSE VRT opened at $84.53 on Thursday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. The company has a market capitalization of $32.29 billion, a price-to-earnings ratio of 71.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59. The company’s 50-day simple moving average is $75.35 and its two-hundred day simple moving average is $56.87. Vertiv has a one year low of $12.22 and a one year high of $94.39.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, February 21st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.28 EPS. Equities analysts forecast that Vertiv will post 2.36 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is currently 8.47%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on VRT. Bank of America lifted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research report on Monday, March 18th. JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $65.00 to $95.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Evercore ISI lifted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company an outperform rating in a research note on Friday, April 5th. Citigroup boosted their target price on shares of Vertiv from $69.00 to $102.00 and gave the company a buy rating in a research note on Monday, April 8th. Finally, Mizuho boosted their price target on shares of Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $74.56.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. Company insiders own 5.62% of the company’s stock.

About Vertiv

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.