Veralto (NYSE:VLTO) Releases Q2 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter earnings guidance on Tuesday. 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VLTO. Royal Bank of Canada raised their price objective on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research note on Thursday, February 8th. BMO Capital Markets raised their target price on Veralto from $97.00 to $101.00 and gave the company an outperform rating in a report on Thursday. Citigroup raised their target price on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a report on Wednesday, January 10th. They issued a hold rating and a $79.00 target price on the stock. Finally, BNP Paribas assumed coverage on Veralto in a report on Tuesday, March 12th. They issued an outperform rating and a $103.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $95.18.

Veralto Stock Up 1.5 %

Shares of Veralto stock traded up $1.39 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. The stock has a 50 day moving average of $88.37 and a 200 day moving average of $80.23. Veralto has a twelve month low of $65.51 and a twelve month high of $95.40. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities research analysts forecast that Veralto will post 3.26 earnings per share for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be paid 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 Activity at Veralto

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