Veralto (NYSE:VLTO) Issues Q2 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.75-0.80 for the period, compared to the consensus estimate of $0.80. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Trading Down 1.8 %

Shares of NYSE VLTO traded down $1.69 on Wednesday, hitting $92.03. The company’s stock had a trading volume of 1,916,293 shares, compared to its average volume of 1,601,207. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The stock has a 50 day moving average of $88.06 and a 200-day moving average of $80.05. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Veralto’s revenue was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Veralto will post 3.26 EPS for the current year.

Veralto Announces Dividend

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 0.39%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on VLTO shares. Argus assumed coverage on shares of Veralto in a research report on Tuesday, January 9th. They issued a buy rating and a $90.00 target price for the company. The Goldman Sachs Group assumed coverage on shares of Veralto in a report on Friday, March 22nd. They issued a buy rating and a $104.00 price objective for the company. Citigroup lifted their price objective on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Stifel Nicolaus upped their target price on Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research note on Wednesday, January 10th. They set a hold rating and a $79.00 target price on the stock. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $93.36.

Insider Buying and Selling

In other Veralto news, insider Mattias Bystrom sold 500 shares of the company’s stock in a transaction 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 sale, the insider now owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.31% of the stock is currently owned by corporate insiders.

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.