Veralto (NYSE:VLTO) Issues Q2 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter 2024 earnings guidance on Tuesday. The company provided EPS guidance of 0.750-0.800 for the period, compared to the consensus EPS estimate of 0.800. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Analysts Set New Price Targets

Several research firms have recently issued reports on VLTO. Deutsche Bank Aktiengesellschaft began coverage on Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 price objective for the company. BMO Capital Markets raised their price objective on Veralto from $97.00 to $101.00 and gave the company an outperform rating in a research note on Thursday. BNP Paribas initiated coverage on Veralto in a research note on Tuesday, March 12th. They issued an outperform rating and a $103.00 price objective for the company. Robert W. Baird raised their price target on Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a research note on Thursday. Finally, Stifel Nicolaus boosted their price objective on Veralto from $92.00 to $97.00 and gave the company a buy rating in a report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $95.18.

Veralto Stock Performance

Shares of VLTO stock traded up $1.39 during mid-day trading on Thursday, hitting $93.79. The stock had a trading volume of 1,785,282 shares, compared to its average volume of 1,625,037. Veralto has a 12-month low of $65.51 and a 12-month high of $95.40. The firm’s 50-day moving average is $88.37 and its two-hundred day moving average is $80.23. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40.

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

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Insider Transactions at Veralto

In other news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $86.10, for a total value 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 filing with the SEC, which is available at this hyperlink. Corporate 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.