Veralto (NYSE:VLTO) Issues Q2 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.75-0.80 for the period, compared to the consensus EPS estimate of $0.80. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus upped their price objective on Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They issued an outperform rating and a $103.00 price objective for the company. BMO Capital Markets upped their price objective on Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a research note on Wednesday, January 10th. They set a hold rating and a $79.00 price target for the company. Finally, Citigroup increased their price target on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $95.18.

Veralto Price Performance

Shares of VLTO stock traded up $1.39 on Thursday, reaching $93.79. 1,785,282 shares of the company’s stock were exchanged, compared to its average volume of 1,625,037. Veralto has a 52 week low of $65.51 and a 52 week high of $95.40. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. The company’s fifty day simple moving average is $88.37 and its 200 day simple moving average is $80.23.

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

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.09 per share. 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.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by corporate insiders.

Veralto Company Profile

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.