Vertiv (NYSE:VRT) Issues Q4 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.80-0.84 for the period, compared to the consensus estimate of $0.75. The company issued revenue guidance of $2.12-2.17 million, compared to the consensus revenue estimate of $2.16 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Vertiv Price Performance

NYSE:VRT traded up $1.04 during trading hours on Thursday, reaching $109.40. The stock had a trading volume of 5,344,433 shares, compared to its average volume of 8,373,172. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a market capitalization of $40.95 billion, a PE ratio of 105.01, a PEG ratio of 1.42 and a beta of 1.59. Vertiv has a 52 week low of $34.60 and a 52 week high of $116.41. The company has a 50 day moving average price of $92.37 and a two-hundred day moving average price of $89.83.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. As a group, sell-side analysts anticipate that Vertiv will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a yield of 0.09%. Vertiv’s payout ratio is presently 9.62%.

Analysts Set New Price Targets

A number of research firms have weighed in on VRT. Evercore ISI boosted their price objective on shares of Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group began coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Bank of America boosted their target price on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday. TD Cowen increased their price target on Vertiv from $93.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Mizuho raised their price target on Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $122.11.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the transaction, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.01% of the stock is currently 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.