Vertiv (NYSE:VRT) Issues Q3 Earnings Guidance

Vertiv (NYSE:VRT) updated its third quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.65 to $0.69 for the period, compared to the consensus earnings per share estimate of $0.63. The company issued revenue guidance of $1.935 billion to $1.985 billion, compared to the consensus revenue estimate of $1.97 billion. Vertiv also updated its FY 2024 guidance to 2.470-2.530 EPS.

Analyst Ratings Changes

Several brokerages have commented on VRT. Evercore ISI boosted their target price on Vertiv from $95.00 to $105.00 and gave the stock an outperform rating in a research note on Friday, June 14th. Citigroup increased their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a buy rating in a research note on Thursday, April 25th. Mizuho boosted their target price on shares of Vertiv from $56.00 to $95.00 and gave the stock a neutral rating in a research note on Friday, April 26th. Oppenheimer raised their price objective on Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a report on Thursday, April 25th. Finally, Bank of America boosted their price objective on Vertiv from $100.00 to $115.00 and gave the stock a buy rating in a research report on Wednesday, May 15th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $96.56.

Vertiv Trading Up 2.5 %

Vertiv stock traded up $1.88 during mid-day trading on Friday, hitting $78.36. 4,478,408 shares of the stock were exchanged, compared to its average volume of 8,603,979. The firm’s fifty day simple moving average is $92.30 and its two-hundred day simple moving average is $79.56. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09. Vertiv has a 12 month low of $25.09 and a 12 month high of $109.27. The stock has a market capitalization of $29.33 billion, a price-to-earnings ratio of 75.12, a PEG ratio of 1.11 and a beta of 1.58.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.10. Vertiv had a net margin of 6.93% and a return on equity of 49.53%. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. Vertiv’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts forecast that Vertiv will post 2.5 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. Vertiv’s payout ratio is currently 9.62%.

Insiders Place Their Bets

In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of Vertiv stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total value of $1,041,519.70. Following the completion of the sale, the director now directly owns 6,882,859 shares of the company’s stock, valued at $752,296,488.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Vertiv news, Director Doherty Philip O’ sold 9,529 shares of the business’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $109.30, for a total transaction of $1,041,519.70. Following the completion of the sale, the director now owns 6,882,859 shares in the company, valued at approximately $752,296,488.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yibin Edward Cui sold 668 shares of the firm’s stock in a transaction on Saturday, May 4th. The shares were sold at an average price of $94.39, for a total transaction of $63,052.52. Following the completion of the transaction, the insider now directly owns 19,452 shares in the company, valued at $1,836,074.28. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,674,034 shares of company stock worth $354,931,478. Corporate insiders own 5.01% of the company’s stock.

About Vertiv

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.