nVent Electric (NVT) Releases FY 2019 Earnings Guidance

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nVent Electric (NYSE:NVT) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $1.80-1.90 for the period, compared to the Thomson Reuters consensus estimate of $1.88. The company issued revenue guidance of $2.214-2.28 billion, compared to the consensus revenue estimate of $2.27 billion.nVent Electric also updated its FY19 guidance to $1.80-$1.90 EPS.

Shares of NYSE:NVT traded up $0.03 during trading on Thursday, hitting $25.02. 2,695,623 shares of the stock traded hands, compared to its average volume of 870,349. The company has a quick ratio of 1.41, a current ratio of 1.96 and a debt-to-equity ratio of 0.34. nVent Electric has a 52-week low of $19.71 and a 52-week high of $29.84.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 8th. Stockholders of record on Friday, January 25th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, January 24th.

NVT has been the subject of several recent research reports. Goldman Sachs Group raised shares of nVent Electric from a neutral rating to a buy rating and cut their target price for the company from $31.00 to $30.00 in a report on Friday, October 26th. Vertical Research initiated coverage on shares of nVent Electric in a report on Tuesday, November 20th. They set a hold rating and a $28.00 target price for the company. Finally, Zacks Investment Research lowered shares of nVent Electric from a hold rating to a sell rating in a report on Tuesday, November 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $28.50.

In related news, Director Randall J. Hogan sold 21,082 shares of nVent Electric stock in a transaction on Monday, November 5th. The shares were sold at an average price of $25.35, for a total value of $534,428.70. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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About nVent Electric

nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.

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