Vertiv (NYSE:VRT) Issues FY24 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.29-2.35 for the period, compared to the consensus EPS estimate of $2.30. The company issued revenue guidance of $7.54-7.69 billion, compared to the consensus revenue estimate of $7.63 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Evercore ISI increased their price target on Vertiv from $90.00 to $95.00 and gave the company an outperform rating in a report on Thursday. JPMorgan Chase & Co. increased their price objective on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday. Mizuho lifted their price objective on Vertiv from $56.00 to $95.00 and gave the company a neutral rating in a research note on Friday. Citigroup upped their target price on shares of Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a research note on Thursday. Finally, Bank of America upped their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $81.11.

Vertiv Stock Up 4.2 %

Vertiv stock traded up $3.77 during mid-day trading on Friday, hitting $94.12. The company had a trading volume of 9,113,241 shares, compared to its average volume of 8,070,395. The stock has a market cap of $35.95 billion, a price-to-earnings ratio of 89.88, a PEG ratio of 1.37 and a beta of 1.59. Vertiv has a 1 year low of $13.73 and a 1 year high of $95.32. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The business has a fifty day moving average of $75.90 and a 200 day moving average of $57.10.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The firm’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.24 earnings per share. On average, sell-side analysts expect that Vertiv will post 2.31 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now directly owns 51,841 shares in the company, valued at $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CAO Scott Cripps sold 56,594 shares of the firm’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total value 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. 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.