Vertiv (NYSE:VRT) Releases FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 2.290-2.350 for the period, compared to the consensus estimate of 2.300. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Vertiv also updated its FY24 guidance to $2.29-2.35 EPS.

Vertiv Stock Performance

NYSE:VRT opened at $93.49 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The firm has a 50-day moving average price of $76.51 and a two-hundred day moving average price of $57.47. Vertiv has a twelve month low of $13.73 and a twelve month high of $95.32. The company has a market capitalization of $35.71 billion, a P/E ratio of 89.89, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The firm had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. During the same period last year, the firm posted $0.24 EPS. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts expect that Vertiv will post 2.35 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have issued reports on VRT. Oppenheimer raised their price target on shares of Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a research note on Thursday. Citigroup raised their price target on shares of Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a research note on Thursday. Bank of America raised their price target on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. Mizuho raised their price target on shares of Vertiv from $56.00 to $95.00 and gave the stock a neutral rating in a research note on Friday. Finally, Evercore ISI raised their price target on shares of Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $81.11.

Insider Activity at Vertiv

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