Vertiv (NYSE:VRT) Updates Q2 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.53-0.57 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE:VRT traded up $5.36 during trading on Wednesday, reaching $84.53. 28,768,103 shares of the company traded hands, compared to its average volume of 7,897,745. The company’s 50 day moving average is $74.96 and its two-hundred day moving average is $56.68. The firm has a market capitalization of $32.29 billion, a PE ratio of 71.64, a PEG ratio of 1.21 and a beta of 1.59. 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 52 week low of $12.22 and a 52 week high of $94.39.

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

Vertiv Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 0.12%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on VRT. Citigroup lifted their price target on Vertiv from $69.00 to $102.00 and gave the company a buy rating in a research note on Monday, April 8th. Oppenheimer began coverage on Vertiv in a research report on Friday, April 5th. They set an outperform rating and a $96.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Vertiv from $65.00 to $95.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Mizuho raised their price objective on Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Finally, Bank of America raised their price objective on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $74.56.

Insider Activity

In other news, EVP Stephen Liang sold 306,196 shares of the business’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 transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares in the company, valued at $3,641,311.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred on Friday, March 8th. The shares were 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. Corporate 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.