Veralto (NYSE:VLTO) Releases Q2 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.75-0.80 for the period, compared to the consensus estimate of $0.80. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Price Performance

NYSE:VLTO traded down $0.58 during midday trading on Friday, reaching $93.21. The stock had a trading volume of 237,633 shares, compared to its average volume of 1,608,724. Veralto has a 1-year low of $65.51 and a 1-year high of $95.40. The firm’s fifty day simple moving average is $88.37 and its 200-day simple moving average is $80.23. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue was up 1.7% on a year-over-year basis. As a group, research analysts anticipate that Veralto will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on VLTO shares. BMO Capital Markets increased their target price on shares of Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research report on Thursday. BNP Paribas initiated coverage on shares of Veralto in a research report on Tuesday, March 12th. They set an outperform rating and a $103.00 price target for the company. The Goldman Sachs Group assumed coverage on shares of Veralto in a research note on Friday, March 22nd. They set a buy rating and a $104.00 price objective on the stock. Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a research note on Thursday, February 8th. Finally, Argus initiated coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Veralto presently has an average rating of Moderate Buy and a consensus price target of $95.18.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following 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 link. 0.31% of the stock is currently owned by insiders.

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.