Veralto (NYSE:VLTO) Issues FY 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 3.250-3.340 for the period, compared to the consensus EPS estimate of 3.290. The company issued revenue guidance of -. Veralto also updated its FY24 guidance to $3.25-3.34 EPS.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Argus initiated coverage on shares of Veralto in a report on Tuesday, January 9th. They set a buy rating and a $90.00 target price for the company. Citigroup increased their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Stifel Nicolaus increased their price target on shares of Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. The Goldman Sachs Group initiated coverage on shares of Veralto in a research note on Friday, March 22nd. They issued a buy rating and a $104.00 price target for the company. Finally, BMO Capital Markets initiated coverage on shares of Veralto in a research note on Tuesday, February 27th. They issued an outperform rating and a $97.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $93.36.

Veralto Price Performance

VLTO traded up $2.52 during trading hours on Tuesday, hitting $93.75. The company’s stock had a trading volume of 2,554,659 shares, compared to its average volume of 1,598,865. The business’s 50-day moving average price is $87.83 and its 200-day moving average price is $79.93. Veralto has a 12 month low of $65.51 and a 12 month high of $93.85. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.07. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.38%. The ex-dividend date is Wednesday, March 27th.

Insider Buying and Selling at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares in the company, valued at $2,609,691. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.31% of the company’s stock.

Veralto Company Profile

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.