Vertiv (NYSE:VRT) Updates FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.470-2.530 for the period, compared to the consensus earnings per share estimate of 2.390. The company issued revenue guidance of $7.6 billion-$7.7 billion, compared to the consensus revenue estimate of $7.7 billion. Vertiv also updated its Q3 guidance to $0.65 to $0.69 EPS.

Vertiv Trading Up 2.4 %

Shares of Vertiv stock traded up $1.85 on Friday, hitting $78.33. The stock had a trading volume of 3,377,704 shares, compared to its average volume of 8,596,927. The stock’s 50-day simple moving average is $92.30 and its two-hundred day simple moving average is $79.56. Vertiv has a one year low of $25.09 and a one year high of $109.27. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. The stock has a market cap of $29.32 billion, a price-to-earnings ratio of 75.12, a PEG ratio of 1.11 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 49.53%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts predict that Vertiv will post 2.5 EPS for the current year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a $0.025 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Wall Street Analysts Forecast Growth

VRT has been the topic of several research reports. Citigroup boosted their price objective on shares of Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, April 25th. Mizuho lifted their price objective on Vertiv from $56.00 to $95.00 and gave the company a neutral rating in a research note on Friday, April 26th. TD Cowen upped their price objective on Vertiv from $89.00 to $93.00 and gave the company a buy rating in a research report on Thursday. Evercore ISI boosted their price target on Vertiv from $95.00 to $105.00 and gave the stock an outperform rating in a research note on Friday, June 14th. Finally, JPMorgan Chase & Co. increased their price objective on Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a research report on Thursday, April 25th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Vertiv presently has an average rating of Moderate Buy and a consensus price target of $96.56.

Insider Transactions at Vertiv

In related news, insider Yibin Edward Cui sold 668 shares of the business’s stock in a transaction that occurred on Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the transaction, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Doherty Philip O’ sold 2,511,295 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the sale, the director now directly owns 9,324,181 shares in the company, valued at approximately $873,116,308.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction dated Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The disclosure for this sale can be found here. Insiders sold a total of 3,674,034 shares of company stock valued at $354,931,478 over the last 90 days. Company insiders own 5.01% of the company’s stock.

Vertiv Company Profile

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.