Vertiv (NYSE:VRT) Releases Q2 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.530-0.570 for the period, compared to the consensus estimate of 0.550. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $1.9 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Analyst Ratings Changes

A number of research firms have commented on VRT. Citigroup lifted their target price on shares of Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a research report on Monday, April 8th. Bank of America lifted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research report on Monday, March 18th. Evercore ISI boosted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company an outperform rating in a research report on Friday, April 5th. Oppenheimer began coverage on shares of Vertiv in a research report on Friday, April 5th. They set an outperform rating and a $96.00 price objective for the company. Finally, Mizuho boosted their price objective on shares of Vertiv from $50.00 to $56.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Vertiv currently has a consensus rating of Moderate Buy and a consensus target price of $74.56.

Vertiv Stock Up 6.8 %

NYSE:VRT opened at $84.53 on Thursday. The firm has a market capitalization of $32.29 billion, a P/E ratio of 71.64, a PEG ratio of 1.26 and a beta of 1.59. Vertiv has a 1-year low of $12.22 and a 1-year high of $94.39. The company’s fifty day moving average price is $75.35 and its 200-day moving average price is $56.87. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business earned $0.28 earnings per share. As a group, equities research analysts anticipate that Vertiv will post 2.36 EPS for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Insiders Place Their Bets

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

About Vertiv

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.