Vertiv (NYSE:VRT) Releases Q2 Earnings Guidance

Vertiv (NYSE:VRT) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.53-0.57 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $1.90-1.95 billion, compared to the consensus revenue estimate of $1.90 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on VRT. Citigroup boosted their target price on shares of Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a report on Thursday. Mizuho lifted their target price on shares of Vertiv from $56.00 to $95.00 and gave the stock a neutral rating in a research report on Friday. Oppenheimer lifted their target price on shares of Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a research report on Thursday. Evercore ISI lifted their target price on shares of Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a research report on Thursday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a research report on Thursday. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $81.11.

Vertiv Stock Performance

Shares of Vertiv stock traded up $3.77 on Friday, reaching $94.12. The stock had a trading volume of 9,113,241 shares, compared to its average volume of 8,070,395. The business’s 50-day moving average price is $75.90 and its two-hundred day moving average price is $57.10. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. Vertiv has a fifty-two week low of $13.73 and a fifty-two week high of $95.32. The stock has a market cap of $35.95 billion, a P/E ratio of 89.88, a price-to-earnings-growth ratio of 1.37 and a beta of 1.59.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 EPS. On average, sell-side analysts forecast that Vertiv will post 2.31 EPS for the current year.

Vertiv Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.11%. The ex-dividend date was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Buying and Selling at Vertiv

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 51,841 shares in the company, 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.