Veralto (NYSE:VLTO) Updates Q2 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.750-0.800 for the period, compared to the consensus earnings per share estimate of 0.800. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Price Performance

Shares of NYSE:VLTO traded up $1.39 during trading on Thursday, hitting $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 1-year low of $65.51 and a 1-year high of $95.40. The firm has a 50-day moving average price of $88.37 and a two-hundred day moving average price 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 (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts expect that Veralto will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, March 27th.

Wall Street Analyst Weigh In

Several research firms recently weighed in on VLTO. Citigroup lifted their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. BMO Capital Markets lifted their price target on shares of Veralto from $97.00 to $101.00 and gave the company an outperform rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 price target on the stock. Robert W. Baird lifted their price target on shares of Veralto from $90.00 to $98.00 and gave the company a neutral rating in a research note on Thursday. Finally, Royal Bank of Canada lifted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a research note on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $95.18.

Insider Buying and Selling

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