Veralto (NYSE:VLTO) Updates 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

VLTO traded down $1.69 during trading on Wednesday, reaching $92.03. 1,916,293 shares of the company’s stock were exchanged, compared to its average volume of 1,601,207. 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 fifty-two week low of $65.51 and a fifty-two week high of $95.40. The business has a 50 day moving average price of $88.06 and a 200 day moving average price of $80.05.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Veralto’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts predict that Veralto will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VLTO. Citigroup raised their target price on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. BMO Capital Markets began coverage on shares of Veralto in a research report on Tuesday, February 27th. They set an outperform rating and a $97.00 target price on the stock. Royal Bank of Canada boosted their target price on shares of Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a research report on Thursday, February 8th. The Goldman Sachs Group started coverage on shares of Veralto in a report on Friday, March 22nd. They set a buy rating and a $104.00 price target for the company. Finally, Stifel Nicolaus upped their target price on Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Five 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 stock presently has a consensus rating of Moderate Buy and an average target price of $93.36.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction 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 directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently 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.