Vertiv (NYSE:VRT) Updates Q2 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.53-0.57 for the period, compared to the consensus earnings per share estimate of $0.55. The company issued revenue guidance of $1.90-1.95 billion, compared to the consensus revenue estimate of $1.90 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Oppenheimer upped their target price on Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a research report on Thursday. Mizuho upped their target price on Vertiv from $56.00 to $95.00 and gave the company a neutral rating in a research report on Friday. Citigroup upped their target price on Vertiv from $102.00 to $110.00 and gave the company a buy rating in a research report on Thursday. JPMorgan Chase & Co. upped their target price on Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a research report on Thursday. Finally, Bank of America upped their target price on Vertiv from $80.00 to $90.00 and gave the company a buy rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Vertiv presently has an average rating of Moderate Buy and an average target price of $81.11.

Vertiv Stock Performance

Shares of Vertiv stock opened at $93.49 on Friday. The company has a market cap of $35.71 billion, a PE ratio of 89.89, a price-to-earnings-growth ratio of 1.44 and a beta of 1.59. Vertiv has a 52 week low of $13.73 and a 52 week high of $95.32. The business has a 50 day moving average price of $76.51 and a 200-day moving average price of $57.47. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. Vertiv’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the business posted $0.24 earnings per share. Equities analysts anticipate that Vertiv will post 2.35 earnings per share for the current fiscal year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is 9.62%.

Insider Buying and Selling at Vertiv

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total value of $4,004,591.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is owned by corporate 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.