Vertiv (NYSE:VRT) Issues Q2 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.53-0.57 for the period, compared to the consensus EPS estimate of $0.55. The company issued revenue guidance of $1.90-1.95 billion, compared to the consensus revenue estimate of $1.90 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on VRT. Evercore ISI lifted their price objective on shares of Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a research report on Thursday. Oppenheimer boosted their price target on shares of Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a research report on Thursday. Citigroup lifted their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a buy rating in a research note on Thursday. Mizuho boosted 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, JPMorgan Chase & Co. boosted their price target on shares of Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a research note on Thursday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $81.11.

Vertiv Price Performance

Shares of NYSE VRT traded up $3.77 on Friday, hitting $94.12. The company’s stock had a trading volume of 9,113,241 shares, compared to its average volume of 8,070,395. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The company has a market capitalization of $35.95 billion, a price-to-earnings ratio of 89.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.59. The stock has a 50 day moving average of $75.90 and a 200-day moving average of $57.10. Vertiv has a 12-month low of $13.73 and a 12-month high of $95.32.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 earnings per share. As a group, research analysts predict that Vertiv will post 2.31 EPS for the current year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is currently 9.62%.

Insider Transactions at Vertiv

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

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.