Veralto (NYSE:VLTO) Issues FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 3.370-3.450 for the period, compared to the consensus EPS estimate of 3.340. The company issued revenue guidance of -. Veralto also updated its FY24 guidance to $3.37-3.45 EPS.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on VLTO. Citigroup boosted their price objective on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. Stifel Nicolaus upped their price target on Veralto from $100.00 to $110.00 and gave the stock a buy rating in a research note on Thursday, July 18th. BMO Capital Markets upped their price target on Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research note on Thursday, April 25th. Royal Bank of Canada reaffirmed a sector perform rating and set a $101.00 price target on shares of Veralto in a research note on Friday, June 14th. Finally, TD Cowen began coverage on Veralto in a research note on Monday, June 17th. They set a hold rating and a $95.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Veralto has a consensus rating of Moderate Buy and a consensus target price of $97.08.

Veralto Stock Performance

Shares of VLTO stock traded up $5.26 during trading on Friday, hitting $104.87. The company’s stock had a trading volume of 3,164,725 shares, compared to its average volume of 1,589,276. The company has a market cap of $25.89 billion and a PE ratio of 28.81. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76. The business has a fifty day moving average of $98.99 and a 200-day moving average of $91.09. Veralto has a 52 week low of $65.51 and a 52 week high of $107.86.

Veralto (NYSE:VLTO) last released its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.04. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 62.93% and a net margin of 15.60%. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.80 earnings per share. As a group, research analysts anticipate that Veralto will post 3.43 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, June 28th. Veralto’s dividend payout ratio is presently 9.89%.

Insider Buying and Selling at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.31% of the stock is owned by corporate insiders.

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.