Veralto (NYSE:VLTO) Updates Q2 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.75-0.80 for the period, compared to the consensus earnings per share estimate of $0.80. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Analyst Ratings Changes

Several analysts have recently issued reports on VLTO shares. BNP Paribas began coverage on shares of Veralto in a research note on Tuesday, March 12th. They issued an outperform rating and a $103.00 target price for the company. The Goldman Sachs Group began coverage on shares of Veralto in a research report on Friday, March 22nd. They set a buy rating and a $104.00 target price on the stock. Argus assumed coverage on Veralto in a report on Tuesday, January 9th. They issued a buy rating and a $90.00 target price for the company. Deutsche Bank Aktiengesellschaft started coverage on Veralto in a report on Wednesday, January 10th. They set a hold rating and a $79.00 price target on the stock. Finally, Citigroup upped their price objective on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $93.36.

Veralto Trading Up 2.7 %

VLTO stock traded up $2.49 during mid-day trading on Tuesday, reaching $93.72. 2,399,876 shares of the company traded hands, compared to its average volume of 1,598,141. Veralto has a 52-week low of $65.51 and a 52-week high of $93.85. 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 company has a fifty day moving average price of $87.83 and a 200-day moving average price of $79.93.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the firm posted $0.80 EPS. Veralto’s revenue was up 3.2% on a year-over-year basis. On average, analysts anticipate that Veralto will post 3.26 EPS for the current year.

Veralto Announces Dividend

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

Insider Buying and Selling

In related news, insider Mattias Bystrom sold 500 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.31% of the stock is owned by company insiders.

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.