Veralto (NYSE:VLTO) Issues FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY 2024 earnings guidance on Tuesday. 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.

Analysts Set New Price Targets

Several brokerages recently issued reports on VLTO. BNP Paribas assumed coverage on Veralto in a research note on Tuesday, March 12th. They set an outperform rating and a $103.00 price objective on the stock. The Goldman Sachs Group assumed 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. Stifel Nicolaus boosted their price target on shares of Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a report on Wednesday, January 10th. They set a hold rating and a $79.00 price target for the company. Finally, Royal Bank of Canada boosted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a report on Thursday, February 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average target price of $93.36.

Veralto Trading Up 2.8 %

Shares of NYSE VLTO traded up $2.52 during midday trading on Tuesday, reaching $93.75. 2,554,659 shares of the company traded hands, compared to its average volume of 1,598,865. Veralto has a 52 week low of $65.51 and a 52 week high of $93.85. The stock has a 50-day moving average price of $87.83 and a 200 day moving average price of $79.93. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. Veralto’s revenue was up 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.80 earnings per share. As a group, sell-side analysts anticipate that Veralto will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 annualized dividend and a yield of 0.38%.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the business’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 owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a document filed with the SEC, which is available at this link. Company 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.