Veralto (NYSE:VLTO) Issues Q2 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.750-0.800 for the period, compared to the consensus EPS estimate of 0.800. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Trading Up 2.8 %

Shares of NYSE VLTO traded up $2.52 during midday trading on Tuesday, reaching $93.75. The stock had a trading volume of 2,554,659 shares, compared to its average volume of 1,598,865. The stock has a 50-day moving average of $87.83 and a 200-day moving average of $79.93. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. Veralto has a 12-month low of $65.51 and a 12-month high of $93.85.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. The business’s revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. Sell-side analysts forecast that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Argus assumed coverage on shares of Veralto in a report on Tuesday, January 9th. They issued a buy rating and a $90.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They issued a buy rating and a $104.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a hold rating and a $79.00 target price for the company. BNP Paribas assumed coverage on shares of Veralto in a report on Tuesday, March 12th. They set an outperform rating and a $103.00 price objective for the company. Finally, Royal Bank of Canada lifted 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $93.36.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated 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 owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.