Vertiv (NYSE:VRT) Releases Q2 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.530-0.570 for the period, compared to the consensus estimate of 0.550. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $1.9 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Citigroup lifted their target price on shares of Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a research note on Monday, April 8th. Evercore ISI lifted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock an outperform rating in a research note on Friday, April 5th. Oppenheimer assumed coverage on shares of Vertiv in a research note on Friday, April 5th. They issued an outperform rating and a $96.00 target price for the company. Bank of America lifted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Vertiv from $65.00 to $95.00 and gave the company an overweight rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $74.56.

Vertiv Price Performance

VRT stock opened at $79.15 on Wednesday. Vertiv has a 12 month low of $12.20 and a 12 month high of $88.69. The firm has a market capitalization of $30.23 billion, a P/E ratio of 67.08, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The firm has a 50 day moving average of $74.96 and a 200-day moving average of $56.68.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business’s quarterly revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. As a group, sell-side analysts predict that Vertiv will post 2.36 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio is presently 8.47%.

Insider Transactions at Vertiv

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

Vertiv Company Profile

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.