Veralto (NYSE:VLTO) Releases FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY 2024 earnings guidance on Tuesday morning. 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.

Veralto Trading Up 1.5 %

Shares of VLTO stock traded up $1.39 during trading hours on Thursday, reaching $93.79. 1,785,282 shares of the company’s stock were exchanged, compared to its average volume of 1,625,037. The company’s 50 day moving average is $88.37 and its two-hundred day moving average is $80.23. Veralto has a 1 year low of $65.51 and a 1 year high of $95.40. 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 (NYSE:VLTO) last issued its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts anticipate that Veralto will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VLTO. BMO Capital Markets raised their price objective on Veralto from $97.00 to $101.00 and gave the company an outperform rating in a research note on Thursday. Argus began coverage on Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price objective for the company. The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They issued a buy rating and a $104.00 price objective for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 price objective for the company. Finally, Citigroup increased their target price on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a report on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $95.18.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the sale, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.