Veralto (NYSE:VLTO) Issues FY24 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $3.25-3.34 for the period, compared to the consensus earnings per share estimate of $3.29. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Price Performance

Veralto stock traded down $1.69 during midday trading on Wednesday, hitting $92.03. 1,916,293 shares of the company 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. The business has a fifty day simple moving average of $88.06 and a two-hundred day simple moving average of $80.05. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $95.40.

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 analysts’ expectations of $1.23 billion. The firm’s revenue was up 1.7% on a year-over-year basis. Research analysts forecast that Veralto will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

The firm 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 dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on VLTO. The Goldman Sachs Group started coverage on shares of Veralto in a research report on Friday, March 22nd. They set a buy rating and a $104.00 price target on the stock. BNP Paribas began coverage on Veralto in a report on Tuesday, March 12th. They issued an outperform rating and a $103.00 price target for the company. BMO Capital Markets began coverage on Veralto in a report on Tuesday, February 27th. They issued an outperform rating and a $97.00 target price for the company. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 price objective on the stock. Finally, Argus began coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price objective on the stock. Five 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, Veralto presently has an average rating of Moderate Buy and a consensus price target of $93.36.

Insider Activity at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was 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 of the company’s stock, valued at $2,609,691. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.31% of the company’s stock.

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.