Veralto (NYSE:VLTO) Posts Earnings Results, Beats Estimates By $0.05 EPS

Veralto (NYSE:VLTO) released its quarterly earnings results on Tuesday. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05, Zacks reports. Veralto had a net margin of 15.69% and a return on equity of 52.85%.

Veralto Stock Performance

Shares of NYSE VLTO traded down $0.08 during midday trading on Tuesday, hitting $101.09. The company’s stock had a trading volume of 2,065,540 shares, compared to its average volume of 1,343,730. Veralto has a 1-year low of $75.05 and a 1-year high of $115.00. The firm’s fifty day moving average price is $103.67 and its 200-day moving average price is $106.36. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.87 and a current ratio of 2.13. The firm has a market cap of $25.00 billion, a P/E ratio of 31.20, a P/E/G ratio of 4.35 and a beta of 1.06.

Veralto Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.11 dividend. The ex-dividend date was Tuesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.44%. Veralto’s payout ratio is 13.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on VLTO shares. Royal Bank of Canada raised their price target on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Stifel Nicolaus lowered their price target on shares of Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a report on Friday, January 24th. Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price target for the company. Finally, Citigroup lowered their price target on shares of Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $113.18.

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.