Veralto (NYSE:VLTO – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 0.750-0.800 for the period, compared to the consensus estimate of 0.800. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.
Veralto Stock Performance
VLTO traded up $2.52 during trading on Tuesday, reaching $93.75. 2,554,659 shares of the stock traded hands, compared to its average volume of 1,598,865. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64. The stock’s 50-day moving average is $87.83 and its 200 day moving average is $79.93. Veralto has a 12 month low of $65.51 and a 12 month high of $93.85.
Veralto (NYSE:VLTO – Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.07. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company posted $0.80 EPS. Veralto’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities analysts predict that Veralto will post 3.26 earnings per share for the current fiscal year.
Veralto Announces Dividend
Analyst Upgrades and Downgrades
Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They set a buy rating and a $104.00 price objective on the stock. BNP Paribas assumed coverage on shares of Veralto in a report on Tuesday, March 12th. They issued an outperform rating and a $103.00 target price on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Veralto in a report on Wednesday, January 10th. They issued a hold rating and a $79.00 target price on the stock. Royal Bank of Canada upped their target price on shares of Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a report on Thursday, February 8th. Finally, Argus initiated coverage on shares of Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $93.36.
Insider Activity
In other news, insider Mattias Bystrom sold 500 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction 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 approximately $2,609,691. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.31% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Veralto
- The How and Why of Investing in Gold Stocks
- Charles Schwab Fortifies its Uptrend on EPS Beat
- Roth IRA Calculator: Calculate Your Potential Returns
- Lockheed Martin Stock Aims for a Fresh All-Time High
- Airline Stocks – Top Airline Stocks to Buy Now
- Beyond the Halving: The Future of Bitcoin Mining Stocks
Receive News & Ratings for Veralto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Veralto and related companies with MarketBeat.com's FREE daily email newsletter.