Vertiv (NYSE:VRT) Updates FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.290-2.350 for the period, compared to the consensus earnings per share estimate of 2.300. The company issued revenue guidance of $7.5 billion-$7.7 billion, compared to the consensus revenue estimate of $7.6 billion. Vertiv also updated its Q2 2024 guidance to 0.530-0.570 EPS.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Mizuho increased their price target on shares of Vertiv from $50.00 to $56.00 and gave the company a neutral rating in a research report on Thursday, February 22nd. Oppenheimer assumed coverage on shares of Vertiv in a research report on Friday, April 5th. They set an outperform rating and a $96.00 price target for the company. Evercore ISI increased their price target on shares of Vertiv from $80.00 to $90.00 and gave the company an outperform rating in a research report on Friday, April 5th. Bank of America increased their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. increased their target price on shares of Vertiv from $65.00 to $95.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Vertiv currently has an average rating of Moderate Buy and an average price target of $74.56.

Vertiv Trading Up 4.0 %

Shares of Vertiv stock opened at $79.15 on Wednesday. Vertiv has a 12-month low of $12.20 and a 12-month high of $88.69. The company has a market cap of $30.23 billion, a price-to-earnings ratio of 67.08, a PEG ratio of 1.21 and a beta of 1.59. The company has a current ratio of 1.74, a quick ratio of 1.35 and a debt-to-equity ratio of 1.45. The company’s 50-day moving average price is $74.96 and its 200-day moving average price is $56.68.

Vertiv (NYSE:VRT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same period in the prior year, the firm posted $0.28 earnings per share. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. On average, equities analysts expect that Vertiv will post 2.36 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.13%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio is currently 8.47%.

Insider Transactions at Vertiv

In other news, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now directly owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the completion of the sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at $3,641,311.84. The disclosure for this sale can be found here. Insiders own 5.62% of the company’s stock.

Vertiv Company Profile

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.