Veralto (NYSE:VLTO) Issues Q2 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter 2024 earnings guidance on Tuesday. 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 Stock Performance

Shares of VLTO stock traded down $0.31 during trading hours on Friday, reaching $93.48. The company’s stock had a trading volume of 270,667 shares, compared to its average volume of 1,609,225. 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 has a one year low of $65.51 and a one year high of $95.40. The firm’s fifty day simple moving average is $88.37 and its 200 day simple moving average is $80.23.

Veralto (NYSE:VLTO) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The business’s revenue was up 1.7% on a year-over-year basis. On average, research analysts expect that Veralto will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on VLTO shares. Argus started coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price objective for the company. BMO Capital Markets boosted their target price on shares of Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a report on Thursday. Citigroup increased their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Robert W. Baird lifted their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Stifel Nicolaus boosted their target price on shares of Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Veralto has a consensus rating of Moderate Buy and a consensus target price of $95.18.

Insider Activity at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the 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 completion of the transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate 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.