Veralto (NYSE:VLTO) Updates FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.250-3.340 for the period, compared to the consensus EPS estimate of 3.290. The company issued revenue guidance of -. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on VLTO shares. Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a research report on Thursday, February 8th. BMO Capital Markets started coverage on Veralto in a report on Tuesday, February 27th. They set an outperform rating and a $97.00 price objective for the company. The Goldman Sachs Group initiated coverage on Veralto in a research report on Friday, March 22nd. They issued a buy rating and a $104.00 price target for the company. Stifel Nicolaus raised their price target on Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $93.36.

Veralto Price Performance

Veralto stock traded down $1.69 during trading on Wednesday, reaching $92.03. The company had a trading volume of 1,916,293 shares, compared to its average volume of 1,601,207. The firm’s 50-day simple moving average is $88.06 and its 200 day simple moving average is $80.05. 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 52 week low of $65.51 and a 52 week high of $95.40.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. Research analysts expect that Veralto will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid a dividend of $0.09 per share. 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 0.39%.

Insiders Place Their Bets

In related news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction that occurred on Friday, February 16th. The shares were 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.31% of the company’s stock.

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.