Vertiv (NYSE:VRT) Releases Q4 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.800-0.840 for the period, compared to the consensus estimate of 0.750. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Vertiv Trading Up 0.3 %

NYSE VRT opened at $112.42 on Wednesday. Vertiv has a 52 week low of $34.60 and a 52 week high of $116.19. The company has a 50 day moving average price of $91.81 and a 200 day moving average price of $89.70. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The firm has a market cap of $42.08 billion, a PE ratio of 108.10, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. During the same period in the prior year, the firm posted $0.46 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Vertiv will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Analyst Ratings Changes

VRT has been the topic of several recent analyst reports. TD Cowen upped their price objective on shares of Vertiv from $89.00 to $93.00 and gave the company a “buy” rating in a report on Thursday, July 25th. The Goldman Sachs Group dropped their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. Oppenheimer boosted their price target on Vertiv from $100.00 to $115.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Bank of America raised their price objective on Vertiv from $115.00 to $130.00 and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group began coverage on Vertiv in a research report on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Vertiv presently has a consensus rating of “Buy” and a consensus price target of $112.44.

Insiders Place Their Bets

In other news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.01% of the company’s stock.

Vertiv Company Profile

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.