Vertiv (NYSE:VRT) Updates Q4 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.80-0.84 for the period, compared to the consensus earnings per share estimate of $0.75. The company issued revenue guidance of $2.12-2.17 million, compared to the consensus revenue estimate of $2.16 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Vertiv Trading Up 2.9 %

VRT stock traded up $3.22 on Friday, reaching $113.25. The company’s stock had a trading volume of 3,320,334 shares, compared to its average volume of 8,362,778. 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 has a market cap of $42.39 billion, a PE ratio of 109.34, a PEG ratio of 1.42 and a beta of 1.59. The business has a fifty day simple moving average of $92.92 and a two-hundred day simple moving average of $89.97. Vertiv has a 12-month low of $34.60 and a 12-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, beating the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, research analysts forecast that Vertiv will post 2.58 EPS for the current year.

Vertiv Announces Dividend

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

Wall Street Analyst Weigh In

VRT has been the subject of several research analyst reports. The Goldman Sachs Group dropped their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. TD Cowen raised their target price on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday. Evercore ISI lifted their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Finally, Oppenheimer lifted their price objective on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $122.11.

Insider Activity

In other 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 completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.