Vertiv (NYSE:VRT) Releases FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.290-2.350 for the period, compared to the consensus EPS estimate of 2.300. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Vertiv also updated its Q2 2024 guidance to 0.530-0.570 EPS.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of recent analyst reports. Citigroup raised their price objective on Vertiv from $69.00 to $102.00 and gave the company a buy rating in a research note on Monday, April 8th. Oppenheimer started coverage on shares of Vertiv in a research report on Friday, April 5th. They issued an outperform rating and a $96.00 price target on the stock. Bank of America upped their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a report on Monday, March 18th. Mizuho lifted their target price on shares of Vertiv from $50.00 to $56.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $65.00 to $95.00 and gave the company an overweight rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Vertiv presently has an average rating of Moderate Buy and an average target price of $74.56.

Vertiv Price Performance

VRT opened at $79.15 on Wednesday. Vertiv has a one year low of $12.20 and a one year high of $88.69. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The company’s 50 day simple moving average is $74.96 and its 200-day simple moving average is $56.68. The stock has a market capitalization of $30.23 billion, a P/E ratio of 67.08, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.88 billion. During the same period in the prior year, the business posted $0.28 earnings per share. Vertiv’s revenue was up 12.7% compared to the same quarter last year. Sell-side analysts anticipate that Vertiv will post 2.36 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were issued a $0.025 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.10 annualized dividend and a yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Insiders Place Their Bets

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Company 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.