Veralto (NYSE:VLTO) Issues Q2 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.75-0.80 for the period, compared to the consensus EPS estimate of $0.80. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Wall Street Analyst Weigh In

A number of brokerages have commented on VLTO. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research note on Wednesday, January 10th. They set a hold rating and a $79.00 price target for the company. BMO Capital Markets started coverage on shares of Veralto in a report on Tuesday, February 27th. They issued an outperform rating and a $97.00 price target on the stock. Citigroup boosted their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. Stifel Nicolaus upped their price objective on shares of Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Finally, Royal Bank of Canada upped their price objective on shares of Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a report on Thursday, February 8th. 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 currently has an average rating of Moderate Buy and a consensus price target of $93.36.

Veralto Price Performance

Shares of VLTO traded up $2.49 during trading hours on Tuesday, hitting $93.72. The company had a trading volume of 2,456,375 shares, compared to its average volume of 1,598,865. Veralto has a 52-week low of $65.51 and a 52-week high of $93.85. The firm has a fifty day moving average price of $87.83 and a 200-day moving average price of $79.93. 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 (NYSE:VLTO) last issued its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the firm posted $0.80 EPS. Veralto’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, research analysts forecast that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

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

Insiders Place Their Bets

In other news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now directly 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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.