Vertiv (NYSE:VRT) Releases FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.290-2.350 for the period, compared to the consensus 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 FY24 guidance to $2.29-2.35 EPS.

Analyst Ratings Changes

VRT has been the subject of a number of analyst reports. Oppenheimer initiated coverage on Vertiv in a research note on Friday, April 5th. They set an outperform rating and a $96.00 price objective for the company. Evercore ISI lifted their price objective on Vertiv from $80.00 to $90.00 and gave the stock an outperform rating in a research note on Friday, April 5th. Bank of America lifted their price objective on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. Mizuho lifted their price objective on Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Finally, Citigroup lifted their price objective on Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Vertiv currently has a consensus rating of Moderate Buy and a consensus price target of $74.56.

Vertiv Price Performance

NYSE:VRT opened at $84.53 on Thursday. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The stock’s 50 day moving average price is $75.35 and its two-hundred day moving average price is $56.87. The firm has a market capitalization of $32.29 billion, a price-to-earnings ratio of 71.64, a P/E/G ratio of 1.26 and a beta of 1.59. Vertiv has a 12-month low of $12.22 and a 12-month high of $94.39.

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

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.12%. Vertiv’s dividend payout ratio (DPR) is currently 8.47%.

Insider Buying and Selling

In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Scott Cripps sold 56,594 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by company insiders.

About Vertiv

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.