Vertiv (NYSE:VRT) Issues Q2 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 0.530-0.570 for the period, compared to the consensus estimate of 0.550. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $1.9 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Oppenheimer increased their target price on Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a report on Thursday. Citigroup increased their target price on Vertiv from $102.00 to $110.00 and gave the company a buy rating in a report on Thursday. Evercore ISI increased their target price on Vertiv from $90.00 to $95.00 and gave the company an outperform rating in a report on Thursday. JPMorgan Chase & Co. upped their price target on Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a research report on Thursday. Finally, Bank of America upped their price target on Vertiv from $80.00 to $90.00 and gave the company a buy rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $76.78.

Vertiv Stock Up 6.8 %

VRT stock opened at $90.35 on Friday. Vertiv has a twelve month low of $13.06 and a twelve month high of $94.39. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The firm has a market cap of $34.51 billion, a PE ratio of 86.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.59. The business has a 50 day moving average of $75.90 and a 200 day moving average of $57.10.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, research analysts forecast that Vertiv will post 2.31 EPS for the current fiscal year.

Vertiv Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Activity at Vertiv

In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is owned by corporate insiders.

About Vertiv

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.