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 FY24 guidance to $2.29-2.35 EPS.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on VRT. JPMorgan Chase & Co. increased their target price on shares of Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a research report on Thursday. Oppenheimer increased their price target on Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a report on Thursday. Evercore ISI increased their price target on Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a report on Thursday. Citigroup increased their price target on Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a report on Thursday. Finally, Bank of America increased their price target on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Vertiv presently has an average rating of Moderate Buy and a consensus price target of $76.78.

Vertiv Stock Performance

Shares of VRT stock opened at $90.35 on Friday. The stock has a market capitalization of $34.51 billion, a P/E ratio of 86.88, a PEG ratio of 1.37 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 firm’s 50 day moving average is $75.90 and its 200 day moving average is $57.10. Vertiv has a 12 month low of $13.06 and a 12 month high of $94.39.

Vertiv (NYSE:VRT) last announced 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. The company had revenue of $1.64 billion for 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%. Vertiv’s revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. On average, sell-side analysts anticipate that Vertiv will post 2.31 earnings per share for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors 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 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

In related news, CAO Scott Cripps sold 56,594 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total value of $4,004,591.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of the 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 transaction, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by 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.