Vertiv (NYSE:VRT) Releases FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.470-2.530 for the period, compared to the consensus estimate of 2.390. The company issued revenue guidance of $7.6 billion-$7.7 billion, compared to the consensus revenue estimate of $7.7 billion. Vertiv also updated its Q3 guidance to $0.65 to $0.69 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their target price on Vertiv from $103.00 to $116.00 and gave the company a buy rating in a report on Friday, May 17th. Citigroup raised their price objective on Vertiv from $102.00 to $110.00 and gave the company a buy rating in a report on Thursday, April 25th. Mizuho raised their price objective on Vertiv from $56.00 to $95.00 and gave the company a neutral rating in a report on Friday, April 26th. JPMorgan Chase & Co. raised their price objective on Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a report on Thursday, April 25th. Finally, Oppenheimer raised their price objective on Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a report on Thursday, April 25th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Vertiv presently has an average rating of Moderate Buy and an average target price of $92.11.

Vertiv Trading Down 12.5 %

VRT traded down $11.35 during midday trading on Wednesday, hitting $79.65. 17,261,830 shares of the company were exchanged, compared to its average volume of 8,530,738. The firm has a market capitalization of $29.82 billion, a P/E ratio of 76.76, a P/E/G ratio of 1.27 and a beta of 1.58. Vertiv has a 1-year low of $25.09 and a 1-year high of $109.27. The firm’s 50 day moving average price is $93.23 and its 200-day moving average price is $79.59. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.24 EPS. As a group, equities analysts forecast that Vertiv will post 2.44 EPS for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. The ex-dividend date was Monday, June 17th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Transactions at Vertiv

In other news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction dated Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Yibin Edward Cui sold 668 shares of Vertiv stock in a transaction dated Saturday, May 4th. The stock was sold at an average price of $94.39, for a total value of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares of the company’s stock, valued at approximately $1,836,074.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Doherty Philip O’ sold 9,529 shares of Vertiv stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the transaction, the director now directly owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,162,739 shares of company stock valued at $400,713,362. Corporate insiders own 5.01% of the company’s stock.

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.