Veralto (NYSE:VLTO) Updates Q2 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.750-0.800 for the period, compared to the consensus EPS estimate of 0.800. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Stock Down 0.3 %

VLTO stock traded down $0.31 on Friday, reaching $93.48. The company’s stock had a trading volume of 270,667 shares, compared to its average volume of 1,609,225. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The business has a fifty day simple moving average of $88.37 and a two-hundred day simple moving average of $80.23.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, equities research analysts forecast that Veralto will post 3.26 earnings per share for the current 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 issued 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 0.39%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on VLTO shares. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research note on Wednesday, January 10th. They set a hold rating and a $79.00 target price for the company. BMO Capital Markets lifted their price target on Veralto from $97.00 to $101.00 and gave the company an outperform rating in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research report on Thursday, February 8th. Citigroup boosted their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Finally, BNP Paribas began coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an outperform rating and a $103.00 price objective on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $95.18.

Insider Activity at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by insiders.

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.