Veralto (NYSE:VLTO) Issues Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Veralto (NYSE:VLTO) released its quarterly earnings results on Tuesday. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.05, Zacks reports. Veralto had a net margin of 15.69% and a return on equity of 52.85%.

Veralto Trading Down 0.1 %

Shares of Veralto stock traded down $0.08 during trading on Tuesday, reaching $101.09. 2,065,545 shares of the company were exchanged, compared to its average volume of 1,343,759. The business has a 50-day moving average price of $103.67 and a 200-day moving average price of $106.36. The firm has a market capitalization of $25.00 billion, a price-to-earnings ratio of 31.20, a P/E/G ratio of 4.35 and a beta of 1.06. The company has a quick ratio of 1.87, a current ratio of 2.13 and a debt-to-equity ratio of 1.35. Veralto has a twelve month low of $75.05 and a twelve month high of $115.00.

Veralto Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a positive change from Veralto’s previous quarterly dividend of $0.09. Veralto’s payout ratio is currently 13.58%.

Analyst Ratings Changes

VLTO has been the topic of a number of research analyst reports. Royal Bank of Canada increased their price target on Veralto from $108.00 to $111.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Stifel Nicolaus lowered their target price on Veralto from $117.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Citigroup cut their price target on Veralto from $118.00 to $116.00 and set a “neutral” rating for the company in a report on Monday, January 13th. Finally, Jefferies Financial Group started coverage on shares of Veralto in a report on Thursday, December 12th. They set a “buy” rating and a $125.00 price objective on the stock. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $113.18.

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.