Vertiv (NYSE:VRT) Issues FY24 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.29-2.35 for the period, compared to the consensus EPS estimate of $2.30. The company issued revenue guidance of $7.54-7.69 billion, compared to the consensus revenue estimate of $7.63 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Analyst Ratings Changes

A number of research analysts recently issued reports on VRT shares. Citigroup boosted their target price on shares of Vertiv from $69.00 to $102.00 and gave the company a buy rating in a research report on Monday, April 8th. Mizuho boosted their price target on shares of Vertiv from $50.00 to $56.00 and gave the company a neutral rating in a research note on Thursday, February 22nd. Evercore ISI boosted their price target on shares of Vertiv from $90.00 to $95.00 and gave the company an outperform rating in a research note on Thursday. Bank of America upped their target price on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. Finally, Oppenheimer upped their target price on shares of Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Vertiv currently has an average rating of Moderate Buy and an average target price of $75.89.

Vertiv Price Performance

Shares of Vertiv stock traded up $6.46 on Thursday, reaching $91.03. The stock had a trading volume of 9,795,384 shares, compared to its average volume of 7,911,748. 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 business’s 50 day moving average is $75.35 and its two-hundred day moving average is $56.87. The company has a market cap of $34.77 billion, a P/E ratio of 75.42, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59. Vertiv has a 1 year low of $13.06 and a 1 year high of $94.39.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that Vertiv will post 2.36 EPS for the current year.

Vertiv Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Insider Buying and Selling

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

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.