Veralto (NYSE:VLTO) Issues FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.250-3.340 for the period, compared to the consensus EPS estimate of 3.290. The company issued revenue guidance of -. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Veralto Trading Up 2.8 %

Shares of NYSE:VLTO traded up $2.52 during trading on Tuesday, reaching $93.75. 2,554,659 shares of the stock were exchanged, compared to its average volume of 1,598,865. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto has a 12-month low of $65.51 and a 12-month high of $93.85. The firm’s 50-day moving average price is $87.83 and its 200 day moving average price is $79.93.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts forecast that Veralto will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, March 27th.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on VLTO shares. Citigroup increased their price target on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research report on Monday, April 8th. The Goldman Sachs Group assumed coverage on Veralto in a research note on Friday, March 22nd. They set a buy rating and a $104.00 price target for the company. Argus assumed coverage on Veralto in a research note on Tuesday, January 9th. They set a buy rating and a $90.00 price target for the company. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research note on Wednesday, January 10th. They set a hold rating and a $79.00 price target for the company. Finally, Stifel Nicolaus raised their price objective on Veralto from $92.00 to $97.00 and gave the company a buy rating in a research note on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average price target of $93.36.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the sale, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.31% of the stock is 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.