Veralto (NYSE:VLTO) Releases FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.440-3.480 for the period, compared to the consensus EPS estimate of 3.450. The company issued revenue guidance of -. Veralto also updated its Q4 guidance to $0.86-0.90 EPS.

Veralto Price Performance

NYSE:VLTO traded down $0.86 during mid-day trading on Wednesday, hitting $110.93. The company’s stock had a trading volume of 1,426,410 shares, compared to its average volume of 1,549,735. The stock has a fifty day moving average of $110.86 and a 200-day moving average of $102.54. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The company has a market capitalization of $27.38 billion and a price-to-earnings ratio of 35.12. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $114.61.

Veralto (NYSE:VLTO) last posted its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.05. 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 58.82% and a net margin of 15.60%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.80 EPS. As a group, equities analysts forecast that Veralto will post 3.46 EPS for the current fiscal year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, September 27th 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 0.32%. The ex-dividend date is Friday, September 27th. Veralto’s payout ratio is presently 11.29%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 target price on the stock. Royal Bank of Canada increased their target price on Veralto from $101.00 to $108.00 and gave the company a “sector perform” rating in a research report on Monday, July 29th. Stifel Nicolaus boosted their price objective on shares of Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets increased their target price on shares of Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Finally, The Goldman Sachs Group lifted their price objective on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.00.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $105.89, for a total value of $317,670.00. Following the sale, the senior vice president now owns 31,045 shares in the company, valued at $3,287,355.05. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Mattias Bystrom sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $105.89, for a total value of $317,670.00. Following the completion of the transaction, the senior vice president now directly owns 31,045 shares in the company, valued at $3,287,355.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $112.55, for a total value of $84,750.15. Following the completion of the transaction, the senior vice president now directly owns 11,165 shares in the company, valued at $1,256,620.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,039 shares of company stock valued at $4,310,335 in the last three months. Company insiders own 0.31% of the company’s stock.

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.