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 (EPS) guidance of 2.660-2.700 for the period, compared to the consensus estimate of 2.490. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.7 billion. Vertiv also updated its Q4 2024 guidance to 0.800-0.840 EPS.

Vertiv Price Performance

VRT opened at $112.42 on Wednesday. The firm has a market capitalization of $42.08 billion, a PE ratio of 108.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The business’s 50-day moving average is $91.81 and its two-hundred day moving average is $89.70. Vertiv has a 1 year low of $34.60 and a 1 year high of $116.19. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $0.46 earnings per share. Research analysts anticipate that Vertiv will post 2.58 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 9.62%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on VRT. TD Cowen upped their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI lifted their price objective on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. Mizuho upped their target price on Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Jefferies Financial Group began coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target for the company. Finally, Bank of America increased their price objective on Vertiv from $115.00 to $130.00 and gave the company a “buy” rating in a report on Tuesday, October 15th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $112.44.

Insider Activity

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.