Vertiv (NYSE:VRT) Issues Q2 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.53-0.57 for the period, compared to the consensus EPS estimate of $0.55. The company issued revenue guidance of $1.90-1.95 billion, compared to the consensus revenue estimate of $1.90 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Vertiv Trading Up 6.8 %

Shares of Vertiv stock traded up $5.71 on Thursday, hitting $90.28. The stock had a trading volume of 9,020,445 shares, compared to its average volume of 7,901,099. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. Vertiv has a one year low of $13.06 and a one year high of $94.39. The stock has a market cap of $34.48 billion, a price-to-earnings ratio of 75.42, a PEG ratio of 1.26 and a beta of 1.59. The stock’s 50-day simple moving average is $75.35 and its two-hundred day simple moving average is $56.87.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 earnings per share. As a group, sell-side analysts predict that Vertiv will post 2.36 EPS for the current year.

Vertiv Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is 8.47%.

Wall Street Analyst Weigh In

VRT has been the subject of a number of recent analyst reports. Evercore ISI boosted their target price on Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a research report on Thursday. Oppenheimer boosted their target price on Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a research report on Thursday. Mizuho boosted their target price on Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Citigroup boosted their target price on Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a research report on Monday, April 8th. Finally, JPMorgan Chase & Co. boosted their target price on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $75.89.

Insider Activity at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of the business’s 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 Securities & Exchange Commission, which can be accessed through the SEC website. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the company’s 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 corporate 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.