Veralto (NYSE:VLTO – Get Free Report) updated its second quarter 2024 earnings guidance on Tuesday. 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 equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a hold rating and a $79.00 target price on the stock. Stifel Nicolaus lifted their price target on shares of Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. The Goldman Sachs Group began coverage on shares of Veralto in a research note on Friday, March 22nd. They set a buy rating and a $104.00 price target on the stock. Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research note on Thursday, February 8th. Finally, BNP Paribas began coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an outperform rating and a $103.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Veralto has a consensus rating of Moderate Buy and a consensus target price of $93.36.
View Our Latest Report on VLTO
Veralto Stock Up 2.8 %
Veralto (NYSE:VLTO – Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company earned $0.80 EPS. Research analysts forecast that Veralto will post 3.26 EPS for the current year.
Veralto Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.38%.
Insider Activity
In related news, insider Mattias Bystrom sold 500 shares of the 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 completion of the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by company 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.
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