Veralto (NYSE:VLTO) Releases FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 3.250-3.340 for the period, compared to the consensus EPS estimate of 3.290. The company issued revenue guidance of -. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Veralto Stock Performance

NYSE:VLTO traded down $0.31 during trading hours on Friday, hitting $93.48. The stock had a trading volume of 270,667 shares, compared to its average volume of 1,609,225. The company has a 50 day simple moving average of $88.37 and a two-hundred day simple moving average of $80.23. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. Veralto has a one year low of $65.51 and a one year high of $95.40.

Veralto (NYSE:VLTO) last announced its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during 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 anticipate that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.39%.

Analyst Ratings Changes

Several equities analysts recently issued reports on VLTO shares. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a research report on Wednesday, January 10th. They issued a hold rating and a $79.00 target price on the stock. BMO Capital Markets raised their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a report on Thursday. BNP Paribas initiated coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an outperform rating and a $103.00 price target for the company. Citigroup upped their target price on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a report on Monday, April 8th. Finally, Robert W. Baird increased their price target on shares of Veralto from $90.00 to $98.00 and gave the company a neutral rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, Veralto currently has a consensus rating of Moderate Buy and a consensus target price of $95.18.

Insiders Place Their Bets

In other news, insider Mattias Bystrom sold 500 shares of the firm’s 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 legal filing with the SEC, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

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.