Veralto (NYSE:VLTO) Updates FY 2024 Earnings Guidance

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

Analyst Ratings Changes

VLTO has been the subject of several research reports. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research report on Monday, April 8th. BMO Capital Markets initiated coverage on Veralto in a research note on Tuesday, February 27th. They issued an outperform rating and a $97.00 price target for the company. The Goldman Sachs Group initiated coverage on Veralto in a research note on Friday, March 22nd. They issued a buy rating and a $104.00 price target for the company. BNP Paribas initiated coverage on Veralto in a research note on Tuesday, March 12th. They issued an outperform rating and a $103.00 price target for the company. Finally, Argus initiated coverage on Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $93.36.

Veralto Stock Up 2.8 %

VLTO stock traded up $2.52 during trading on Tuesday, reaching $93.75. 2,554,659 shares of the company traded hands, compared to its average volume of 1,598,865. Veralto has a 12 month low of $65.51 and a 12 month high of $93.85. The business has a 50 day simple moving average of $87.83 and a 200 day simple moving average of $79.93. 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 (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share 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 the consensus estimate of $1.25 billion. Veralto’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 EPS. Analysts forecast that Veralto will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The firm also recently disclosed 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 is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through 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.