Vertiv (NYSE:VRT) Issues FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 2.290-2.350 for the period, compared to the consensus EPS estimate of 2.300. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Vertiv also updated its FY24 guidance to $2.29-2.35 EPS.

Vertiv Price Performance

VRT stock opened at $93.49 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. Vertiv has a one year low of $13.73 and a one year high of $95.32. The firm has a market capitalization of $35.71 billion, a PE ratio of 89.89, a P/E/G ratio of 1.44 and a beta of 1.59. The firm has a 50-day moving average of $76.51 and a two-hundred day moving average of $57.47.

Vertiv (NYSE:VRT) last posted its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, analysts forecast that Vertiv will post 2.35 earnings per share for the current year.

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is 9.62%.

Wall Street Analysts Forecast Growth

VRT has been the subject of a number of research analyst reports. Oppenheimer increased their price target on shares of Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a research report on Thursday. Citigroup increased their price target on shares of Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a research report on Thursday. Mizuho increased their price target on shares of Vertiv from $56.00 to $95.00 and gave the stock a neutral rating in a research report on Friday. Bank of America increased their price target on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. increased their price objective on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a report on Thursday. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Vertiv currently has a consensus rating of Moderate Buy and an average price target of $81.11.

Insider Buying and Selling

In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the 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 in the company, valued at $3,641,311.84. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the 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 SEC, which is accessible through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares in the company, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by corporate insiders.

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.