Veralto (NYSE:VLTO) Issues FY24 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $3.25-3.34 for the period, compared to the consensus EPS estimate of $3.29. Veralto also updated its Q2 guidance to $0.75-0.80 EPS.

Analyst Ratings Changes

VLTO has been the topic of several recent analyst reports. BMO Capital Markets assumed coverage on shares of Veralto in a research note on Tuesday, February 27th. They set an outperform rating and a $97.00 price objective on the stock. BNP Paribas initiated coverage on Veralto in a research note on Tuesday, March 12th. They issued an outperform rating and a $103.00 price objective on the stock. Citigroup lifted their target price on Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Royal Bank of Canada increased their price target on Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a research note on Thursday, February 8th. Finally, Argus began coverage on shares of Veralto in a research report on Tuesday, January 9th. They set a buy rating and a $90.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $93.36.

Veralto Price Performance

Shares of VLTO stock traded up $2.49 on Tuesday, hitting $93.72. 2,399,876 shares of the company’s stock were exchanged, compared to its average volume of 1,598,141. Veralto has a 12 month low of $65.51 and a 12 month high of $93.85. 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 has a 50 day moving average of $87.83 and a 200 day moving average of $79.93.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm posted $0.80 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities research analysts anticipate that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently disclosed 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 yield of 0.38%.

Insider Activity

In other Veralto news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now owns 30,310 shares in the company, valued at approximately $2,609,691. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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.