Veralto (NYSE:VLTO) Releases FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 3.250-3.340 for the period, compared to the consensus estimate of 3.290. The company issued revenue guidance of -. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Robert W. Baird boosted their price target on Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a report on Thursday. Citigroup increased their price objective on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a report on Monday, April 8th. Argus began coverage on Veralto in a report on Tuesday, January 9th. They issued a buy rating and a $90.00 target price on the stock. BNP Paribas started coverage on shares of Veralto in a research note on Tuesday, March 12th. They set an outperform rating and a $103.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a report on Wednesday, January 10th. They set a hold rating and a $79.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $95.18.

Veralto Price Performance

Veralto stock traded down $0.31 during midday trading on Friday, reaching $93.48. The company had a trading volume of 270,667 shares, compared to its average volume of 1,609,225. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The firm’s fifty day simple moving average is $88.37 and its 200-day simple moving average is $80.23. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.23 billion. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, analysts anticipate that Veralto will post 3.26 EPS for the current year.

Veralto Dividend Announcement

The company 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. This represents a $0.36 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Activity

In other news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.