Veralto (NYSE:VLTO) Releases FY24 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $3.25-3.34 for the period, compared to the consensus estimate of $3.29. Veralto also updated its Q2 guidance to $0.75-0.80 EPS.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a research report on Thursday, February 8th. Citigroup upped 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 started coverage on shares of Veralto in a report on Tuesday, February 27th. They issued an outperform rating and a $97.00 price target on the stock. Deutsche Bank Aktiengesellschaft started coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a hold rating and a $79.00 price target on the stock. Finally, Stifel Nicolaus increased their price target on shares of Veralto from $92.00 to $97.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $93.36.

Veralto Trading Up 2.7 %

Shares of VLTO traded up $2.49 during trading hours on Tuesday, reaching $93.72. 2,456,375 shares of the company traded hands, compared to its average volume of 1,598,865. The company’s fifty day moving average price is $87.83 and its two-hundred day moving average price is $79.93. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. Veralto has a 12 month low of $65.51 and a 12 month high of $93.85.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.07. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the business earned $0.80 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Sell-side analysts predict that Veralto will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%.

Insider Activity at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of Veralto stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $86.10, for a total value of $43,050.00. Following the completion of the transaction, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.31% of the stock is currently owned by corporate 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.