Veralto (NYSE:VLTO) Releases Q3 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 0.820-0.860 for the period, compared to the consensus estimate of 0.830. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.370-3.450 EPS.

Veralto Trading Up 5.3 %

VLTO traded up $5.26 during mid-day trading on Friday, hitting $104.87. The stock had a trading volume of 3,164,725 shares, compared to its average volume of 1,589,276. The stock’s fifty day simple moving average is $98.99 and its 200-day simple moving average is $91.09. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The firm has a market capitalization of $25.89 billion and a price-to-earnings ratio of 28.81. Veralto has a 1-year low of $65.51 and a 1-year high of $107.86.

Veralto (NYSE:VLTO) last posted its earnings results on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto had a net margin of 15.60% and a return on equity of 62.93%. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period last year, the business posted $0.80 earnings per share. As a group, research analysts forecast that Veralto will post 3.43 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. Veralto’s payout ratio is 9.89%.

Analysts Set New Price Targets

A number of brokerages recently commented on VLTO. Citigroup raised their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $101.00 target price on shares of Veralto in a research report on Friday, June 14th. TD Cowen assumed coverage on shares of Veralto in a research report on Monday, June 17th. They issued a hold rating and a $95.00 target price for the company. Robert W. Baird raised their target price on shares of Veralto from $90.00 to $98.00 and gave the company a neutral rating in a research report on Thursday, April 25th. Finally, Stifel Nicolaus raised their target price on shares of Veralto from $100.00 to $110.00 and gave the company a buy rating in a research report on Thursday, July 18th. Six equities research 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, the company currently has a consensus rating of Moderate Buy and a consensus price target of $97.08.

Insider Transactions at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

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.