Veralto (NYSE:VLTO) Issues FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.250-3.340 for the period, compared to the consensus EPS estimate of 3.290. The company issued revenue guidance of -. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Veralto Stock Up 1.5 %

NYSE VLTO traded up $1.39 during trading hours on Thursday, reaching $93.79. The company’s stock had a trading volume of 1,785,282 shares, compared to its average volume of 1,625,037. The firm’s 50-day moving average price is $88.37 and its 200-day moving average price is $80.23. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto has a 1 year low of $65.51 and a 1 year high of $95.40.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Veralto’s revenue was up 1.7% on a year-over-year basis. As a group, analysts predict that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on VLTO. 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 on the stock. BMO Capital Markets boosted their target price on Veralto from $97.00 to $101.00 and gave the company an outperform rating in a research report on Thursday. Stifel Nicolaus increased their price target on Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a report on Wednesday, January 10th. They set a hold rating and a $79.00 price target on the stock. Finally, Argus began coverage on Veralto in a report on Tuesday, January 9th. They set a buy rating and a $90.00 price target on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Veralto presently has a consensus rating of Moderate Buy and a consensus target price of $95.18.

Insider Transactions at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $2,609,691. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.