Veralto (NYSE:VLTO) Releases Q2 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.750-0.800 for the period, compared to the consensus EPS estimate of 0.800. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Price Performance

NYSE VLTO traded up $2.52 during trading hours on Tuesday, hitting $93.75. 2,554,659 shares of the company’s stock traded hands, compared to its average volume of 1,598,865. Veralto has a 52-week low of $65.51 and a 52-week high of $93.85. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The firm’s 50-day moving average is $87.83 and its 200-day moving average is $79.93.

Veralto (NYSE:VLTO) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $0.80 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. As a group, research analysts anticipate that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BNP Paribas assumed coverage on shares of Veralto in a report on Tuesday, March 12th. They set an outperform rating and a $103.00 target price on the stock. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They set a buy rating and a $104.00 target price on the stock. Royal Bank of Canada increased their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a report on Thursday, February 8th. Citigroup increased their target price on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. Finally, Argus assumed coverage on shares of Veralto in a report on Tuesday, January 9th. They set a buy rating and a $90.00 target price on the stock. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $93.36.

Insider Activity

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the transaction, the insider now directly 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 available at this link. Company insiders own 0.31% of the company’s stock.

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.