Veralto (NYSE:VLTO) Releases FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 3.440-3.480 for the period, compared to the consensus earnings per share estimate of 3.450. The company issued revenue guidance of -. Veralto also updated its Q4 guidance to $0.86-0.90 EPS.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VLTO shares. Royal Bank of Canada lifted their price objective on shares of Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday. TD Cowen upped their price objective on Veralto from $95.00 to $100.00 and gave the stock a “hold” rating in a research report on Tuesday, July 30th. The Goldman Sachs Group raised their target price on Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Robert W. Baird increased their price target on shares of Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Veralto from $100.00 to $109.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $108.27.

Veralto Stock Performance

Shares of NYSE VLTO traded down $1.74 during midday trading on Friday, reaching $104.05. 1,538,036 shares of the company were exchanged, compared to its average volume of 1,556,290. The stock has a fifty day simple moving average of $110.75 and a 200 day simple moving average of $102.73. The company has a current ratio of 1.96, a quick ratio of 1.70 and a debt-to-equity ratio of 1.56. The stock has a market cap of $25.68 billion and a P/E ratio of 32.62. Veralto has a 1 year low of $65.51 and a 1 year high of $115.00.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.85 by $0.04. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. Veralto had a return on equity of 58.82% and a net margin of 15.60%. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, research analysts forecast that Veralto will post 3.46 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be issued a $0.09 dividend. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. Veralto’s dividend payout ratio is currently 11.29%.

Insider Buying and Selling

In other Veralto news, CEO Jennifer Honeycutt sold 13,191 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the completion of the sale, the chief executive officer now owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Surekha Trivedi sold 753 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $106.72, for a total value of $80,360.16. Following the sale, the senior vice president now owns 12,671 shares in the company, valued at $1,352,249.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jennifer Honeycutt sold 13,191 shares of Veralto stock in a transaction on Friday, August 30th. The stock was sold at an average price of $111.98, for a total value of $1,477,128.18. Following the transaction, the chief executive officer now directly owns 138,546 shares of the company’s stock, valued at approximately $15,514,381.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,039 shares of company stock valued at $4,310,335 over the last quarter. Company insiders own 0.31% of the company’s stock.

Veralto Company Profile

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.