Veralto (NYSE:VLTO) Releases Q3 2024 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.820-0.860 for the period, compared to the consensus estimate of 0.830. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.370-3.450 EPS.

Veralto Stock Performance

Shares of NYSE:VLTO traded up $5.26 during trading on Friday, hitting $104.87. The company’s stock had a trading volume of 3,164,725 shares, compared to its average volume of 1,589,276. The company has a 50-day moving average of $98.99 and a 200-day moving average of $91.09. Veralto has a 12 month low of $65.51 and a 12 month high of $107.86. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.83 and a quick ratio of 1.56. The firm has a market cap of $25.89 billion and a price-to-earnings ratio of 28.81.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.04. Veralto had a net margin of 15.60% and a return on equity of 62.93%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business earned $0.80 EPS. The business’s quarterly revenue was up 2.8% on a year-over-year basis. On average, sell-side analysts expect that Veralto will post 3.43 earnings per share for the current year.

Veralto Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, June 28th. Veralto’s dividend payout ratio is 9.89%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on VLTO. Stifel Nicolaus increased their target price on shares of Veralto from $100.00 to $110.00 and gave the stock a buy rating in a report on Thursday, July 18th. Robert W. Baird increased their target price on shares of Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a report on Thursday, April 25th. 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. BMO Capital Markets increased their target price on shares of Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Finally, TD Cowen assumed coverage on shares of Veralto in a report on Monday, June 17th. They set a hold rating and a $95.00 price objective for the company. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Veralto has an average rating of Moderate Buy and a consensus price target of $97.08.

Insider Activity at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the completion of the transaction, the senior vice president now directly owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is currently owned by 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.