Veralto (NYSE:VLTO) Updates Q2 2024 Earnings Guidance

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

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Royal Bank of Canada upped their price objective on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a report on Thursday, February 8th. The Goldman Sachs Group started coverage on shares of Veralto in a research report on Friday, March 22nd. They set a buy rating and a $104.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a hold rating and a $79.00 target price for the company. Citigroup increased 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, Argus began coverage on shares of Veralto in a research report on Tuesday, January 9th. They set a buy rating and a $90.00 target price for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $93.36.

Veralto Trading Down 1.7 %

Shares of VLTO traded down $1.63 during trading hours on Wednesday, reaching $92.09. 2,050,624 shares of the company’s stock traded hands, compared to its average volume of 1,604,671. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto has a twelve month low of $65.51 and a twelve month high of $95.40. The business’s fifty day simple moving average is $88.06 and its two-hundred day simple moving average is $80.05.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 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 analyst estimates of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, research analysts anticipate that Veralto will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Insider Buying and Selling

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.31% of the stock is owned by corporate 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.