Vertiv (NYSE:VRT) Updates Q2 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its second quarter 2024 earnings guidance on Wednesday. The company provided EPS guidance of 0.530-0.570 for the period, compared to the consensus EPS estimate of 0.550. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $1.9 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Oppenheimer began coverage on Vertiv in a report on Friday, April 5th. They set an outperform rating and a $96.00 price target for the company. Mizuho raised their price target on Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. Evercore ISI raised their price target on Vertiv from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, April 5th. Bank of America raised their price target on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their target price on Vertiv from $65.00 to $95.00 and gave the company an overweight rating in a research report on Thursday, April 11th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Vertiv presently has a consensus rating of Moderate Buy and an average price target of $74.56.

Vertiv Stock Performance

NYSE:VRT opened at $84.53 on Thursday. The stock has a market cap of $32.29 billion, a P/E ratio of 71.64, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The stock’s 50-day moving average is $75.35 and its 200-day moving average is $56.87. Vertiv has a 1-year low of $12.22 and a 1-year high of $94.39.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.88 billion. Vertiv had a return on equity of 39.46% and a net margin of 6.71%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. Equities research analysts anticipate that Vertiv will post 2.36 earnings per share for the current year.

Vertiv Announces Dividend

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

Insider Buying and Selling

In related news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction that occurred 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 of the company’s stock, valued at $3,641,311.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Vertiv news, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at $3,641,311.84. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Scott Cripps sold 56,594 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is owned by insiders.

About Vertiv

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.