Vertiv (NYSE:VRT) Issues FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.290-2.350 for the period, compared to the consensus estimate of 2.300. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Vertiv also updated its FY24 guidance to $2.29-2.35 EPS.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Evercore ISI boosted their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock an outperform rating in a research note on Friday, April 5th. Citigroup raised their price objective on shares of Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a report on Monday, April 8th. Bank of America increased their target price on shares of Vertiv from $80.00 to $90.00 and gave the company a buy rating in a research report on Monday, March 18th. JPMorgan Chase & Co. boosted their price target on shares of Vertiv from $65.00 to $95.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Finally, Mizuho upped their price objective on shares of Vertiv from $50.00 to $56.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Vertiv has an average rating of Moderate Buy and an average price target of $74.56.

Vertiv Stock Performance

Shares of NYSE VRT traded up $5.72 during midday trading on Wednesday, reaching $84.89. 26,087,546 shares of the company were exchanged, compared to its average volume of 7,859,743. The stock has a market cap of $32.43 billion, a P/E ratio of 71.64, a PEG ratio of 1.21 and a beta of 1.59. Vertiv has a 1 year low of $12.22 and a 1 year high of $94.39. The stock has a fifty day simple moving average of $74.96 and a 200 day simple moving average of $56.68. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. Vertiv had a return on equity of 39.46% and a net margin of 6.71%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period last year, the business posted $0.28 EPS. The company’s revenue was up 12.7% on a year-over-year basis. On average, research analysts forecast that Vertiv will post 2.36 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a yield of 0.12%. Vertiv’s payout ratio is currently 8.47%.

Insider Transactions at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. Company insiders own 5.62% of the company’s stock.

Vertiv Company Profile

Vertiv Holdings Co, together with its subsidiaries, designs, manufactures, and services critical digital infrastructure technologies and life cycle services for data centers, communication networks, and commercial and industrial environments in the Americas, the Asia Pacific, Europe, the Middle East, and Africa.