Veralto (NYSE:VLTO) Updates Q2 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.75-0.80 for the period, compared to the consensus EPS estimate of $0.80. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Analyst Upgrades and Downgrades

Several research firms recently commented on VLTO. Argus initiated coverage on Veralto in a research report on Tuesday, January 9th. They set a buy rating and a $90.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a hold rating and a $79.00 target price on the stock. BMO Capital Markets started coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an outperform rating and a $97.00 target price for the company. The Goldman Sachs Group initiated coverage on Veralto in a research report on Friday, March 22nd. They set a buy rating and a $104.00 price target on the stock. Finally, Royal Bank of Canada increased their target price on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a report on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Veralto has a consensus rating of Moderate Buy and an average price target of $93.36.

Veralto Stock Performance

VLTO stock traded up $2.49 during midday trading on Tuesday, reaching $93.72. The company had a trading volume of 2,399,876 shares, compared to its average volume of 1,598,141. The firm has a 50-day moving average price of $87.83 and a 200-day moving average price of $79.93. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto has a 1 year low of $65.51 and a 1 year high of $93.85.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.80 earnings per share. On average, research analysts anticipate that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.38%.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.31% of the company’s stock.

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.