Veralto (NYSE:VLTO) Updates FY24 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.25-3.34 for the period, compared to the consensus EPS estimate of $3.29. Veralto also updated its Q2 guidance to $0.75-0.80 EPS.

Analyst Upgrades and Downgrades

VLTO has been the topic of a number of research analyst reports. BNP Paribas began coverage on Veralto in a report on Tuesday, March 12th. They issued an outperform rating and a $103.00 target price on the stock. BMO Capital Markets began coverage on shares of Veralto in a research report on Tuesday, February 27th. They set an outperform rating and a $97.00 price target for the company. 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 price target on the stock. The Goldman Sachs Group assumed coverage on Veralto in a report on Friday, March 22nd. They set a buy rating and a $104.00 target price on the stock. Finally, Citigroup raised their price objective on Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Veralto presently has an average rating of Moderate Buy and a consensus target price of $93.36.

Veralto Trading Up 2.7 %

Shares of VLTO traded up $2.49 during midday trading on Tuesday, reaching $93.72. The stock had a trading volume of 2,399,876 shares, compared to its average volume of 1,598,141. The firm’s 50 day moving average price is $87.83 and its 200-day moving average price is $79.93. Veralto has a 52 week low of $65.51 and a 52 week high of $93.85. 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 (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating analysts’ consensus estimates 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. Veralto’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the company posted $0.80 EPS. On average, equities analysts anticipate that Veralto will post 3.26 EPS for the current year.

Veralto Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

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.