Vertiv (NYSE:VRT) Updates FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.660-2.700 for the period, compared to the consensus earnings per share estimate of 2.490. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.7 billion. Vertiv also updated its Q4 guidance to $0.80-0.84 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on VRT. The Goldman Sachs Group cut their target price on Vertiv from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Thursday, July 25th. Evercore ISI upped their target price on Vertiv from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Monday, October 7th. Mizuho upped their price objective on Vertiv from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. TD Cowen upped their price objective on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective for the company. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $112.44.

Vertiv Trading Down 1.0 %

Vertiv stock traded down $1.16 during trading hours on Wednesday, hitting $111.31. The stock had a trading volume of 11,335,601 shares, compared to its average volume of 8,351,733. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a market cap of $41.67 billion, a price-to-earnings ratio of 108.90, a P/E/G ratio of 1.42 and a beta of 1.59. Vertiv has a one year low of $34.60 and a one year high of $116.41. The business’s 50 day simple moving average is $91.81 and its 200-day simple moving average is $89.70.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share. On average, equities analysts predict that Vertiv will post 2.58 EPS for the current fiscal year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were given a $0.025 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.09%. Vertiv’s dividend payout ratio is presently 9.62%.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 5.01% 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.