Vertiv (NYSE:VRT) Issues Q2 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.53-0.57 for the period, compared to the consensus EPS estimate of $0.55. The company issued revenue guidance of $1.90-1.95 billion, compared to the consensus revenue estimate of $1.90 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Vertiv Stock Up 4.0 %

NYSE:VRT opened at $79.15 on Wednesday. The firm has a market capitalization of $30.23 billion, a price-to-earnings ratio of 67.08, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59. Vertiv has a twelve month low of $12.20 and a twelve month high of $88.69. The stock’s 50 day moving average price is $74.96 and its two-hundred day moving average price is $56.68. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Vertiv had a return on equity of 39.46% and a net margin of 6.71%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.28 EPS. Equities research analysts expect that Vertiv will post 2.36 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date was Monday, March 18th. Vertiv’s payout ratio is presently 8.47%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price target on Vertiv from $65.00 to $95.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Mizuho boosted their price target on Vertiv from $50.00 to $56.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Evercore ISI boosted their price target on Vertiv from $80.00 to $90.00 and gave the company an outperform rating in a research note on Friday, April 5th. Oppenheimer assumed coverage on Vertiv in a research note on Friday, April 5th. They issued an outperform rating and a $96.00 price target for the company. Finally, Bank of America boosted their price target on Vertiv from $80.00 to $90.00 and gave the company a buy rating in a research note on Monday, March 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Vertiv currently has an average rating of Moderate Buy and an average price target of $74.56.

Insider Activity

In related news, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. Corporate insiders own 5.62% 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.