Vertiv (NYSE:VRT) Updates Q4 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.800-0.840 for the period, compared to the consensus EPS estimate of 0.750. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Vertiv Stock Performance

Vertiv stock traded up $1.02 during mid-day trading on Thursday, reaching $109.38. 4,675,277 shares of the company were exchanged, compared to its average volume of 8,369,804. The firm has a market cap of $40.95 billion, a PE ratio of 105.01, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The firm’s 50-day simple moving average is $92.37 and its two-hundred day simple moving average is $89.83. Vertiv has a twelve month low of $34.60 and a twelve month high of $116.41.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. The company had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.52 EPS. Equities analysts predict that Vertiv will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 was Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Mizuho increased their target price on shares of Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday. Evercore ISI lifted their price objective on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Oppenheimer lifted their price target on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, TD Cowen increased their price objective on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $122.11.

Insiders Place Their Bets

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.01% of the stock is owned by insiders.

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.