Vertiv (NYSE:VRT) Updates Q2 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.53-0.57 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $1.90-1.95 billion, compared to the consensus revenue estimate of $1.90 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Vertiv Stock Up 4.0 %

VRT stock opened at $79.15 on Wednesday. Vertiv has a fifty-two week low of $12.20 and a fifty-two week high of $88.69. The business’s 50 day moving average price is $74.96 and its two-hundred day moving average price is $56.68. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. The company has a market capitalization of $30.23 billion, a price-to-earnings ratio of 67.08, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59.

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

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.13%. Vertiv’s dividend payout ratio is currently 8.47%.

Analysts Set New Price Targets

A number of brokerages have recently commented on VRT. Oppenheimer began coverage on Vertiv in a research report on Friday, April 5th. They issued an outperform rating and a $96.00 price target on the stock. Evercore ISI upped their price objective on Vertiv from $80.00 to $90.00 and gave the company an outperform rating in a research report on Friday, April 5th. JPMorgan Chase & Co. upped their price objective on Vertiv from $65.00 to $95.00 and gave the company an overweight rating in a research report on Thursday, April 11th. Citigroup upped their price objective on Vertiv from $69.00 to $102.00 and gave the company a buy rating in a research report on Monday, April 8th. Finally, Bank of America upped their price objective on Vertiv from $80.00 to $90.00 and gave the company a buy rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Vertiv presently has an average rating of Moderate Buy and an average target price of $74.56.

Insider Activity at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 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 $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by corporate insiders.

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.