Veralto (NYSE:VLTO) Updates Q2 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.75-0.80 for the period, compared to the consensus estimate of $0.80. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They issued a buy rating and a $104.00 price objective on the stock. Citigroup raised their price target on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. BMO Capital Markets started coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an outperform rating and a $97.00 price objective for the company. Stifel Nicolaus raised their target price on shares of Veralto from $92.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Finally, 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 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $93.36.

Veralto Price Performance

VLTO traded down $1.69 during trading on Wednesday, hitting $92.03. The stock had a trading volume of 1,916,293 shares, compared to its average volume of 1,601,207. The stock has a 50 day simple moving average of $88.06 and a two-hundred day simple moving average of $80.05. 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 has a twelve month low of $65.51 and a twelve month high of $95.40.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. Veralto’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, research analysts forecast that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this hyperlink. 0.31% of the stock is currently 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.