Veralto (NYSE:VLTO) Issues FY24 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $3.25-3.34 for the period, compared to the consensus estimate of $3.29. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Price Performance

VLTO stock traded down $0.31 during mid-day trading on Friday, reaching $93.48. 270,667 shares of the company’s stock were exchanged, compared to its average volume of 1,609,225. The stock’s 50 day moving average is $88.37 and its 200 day moving average is $80.23. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 EPS for the quarter, beating the consensus estimate 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. The firm’s revenue was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently issued reports on VLTO shares. Royal Bank of Canada raised their price objective on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a report on Thursday, February 8th. Stifel Nicolaus upped their price target on Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They issued a buy rating and a $104.00 price objective for the company. Argus assumed coverage on shares of Veralto in a research report on Tuesday, January 9th. They set a buy rating and a $90.00 price objective for the company. Finally, BNP Paribas assumed coverage on shares of Veralto in a report on Tuesday, March 12th. They set an outperform rating and a $103.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $95.18.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the sale, the insider now 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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.31% of the company’s stock.

Veralto Company Profile

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.