Veralto (NYSE:VLTO) Issues Q2 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.75-0.80 for the period, compared to the consensus EPS estimate of $0.80. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Analysts Set New Price Targets

A number of equities analysts recently commented on VLTO shares. BNP Paribas started coverage on Veralto in a report on Tuesday, March 12th. They set an outperform rating and a $103.00 target price for the company. Argus initiated coverage on Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price target on the stock. Stifel Nicolaus upped their price target on Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. Citigroup increased their target price on Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $93.36.

Veralto Trading Up 2.7 %

Shares of Veralto stock traded up $2.49 on Tuesday, reaching $93.72. The company had a trading volume of 2,456,375 shares, compared to its average volume of 1,598,865. Veralto has a 1 year low of $65.51 and a 1 year high of $93.85. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. The firm’s 50-day moving average price is $87.83 and its two-hundred day moving average price is $79.93.

Veralto (NYSE:VLTO) last issued its earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.25 billion. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. On average, research analysts anticipate that Veralto will post 3.26 earnings per share for the current year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.38%.

Insider Buying and Selling

In related news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now directly owns 30,310 shares in the company, valued at approximately $2,609,691. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.31% of the stock is owned by company insiders.

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.