Veralto (NYSE:VLTO) Releases FY24 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $3.25-3.34 for the period, compared to the consensus EPS estimate of $3.29. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Veralto Price Performance

Veralto stock traded down $1.69 during midday trading on Wednesday, reaching $92.03. 1,916,293 shares of the stock traded hands, compared to its average volume of 1,601,207. The company has a current ratio of 1.64, a quick ratio of 1.40 and a debt-to-equity ratio of 1.89. The firm has a fifty day moving average price of $88.06 and a two-hundred day moving average price of $80.05. Veralto has a fifty-two week low of $65.51 and a fifty-two week high of $95.40.

Veralto (NYSE:VLTO) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.23 billion. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, research analysts expect that Veralto will post 3.26 earnings per share for the current year.

Veralto Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Thursday, March 28th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $0.36 dividend on an annualized basis and a yield of 0.39%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. The Goldman Sachs Group began coverage on Veralto in a research report on Friday, March 22nd. They issued a buy rating and a $104.00 price objective for the company. BMO Capital Markets began coverage on Veralto in a report on Tuesday, February 27th. They set an outperform rating and a $97.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 price target on the stock. Royal Bank of Canada increased their price objective on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research report on Thursday, February 8th. Finally, Citigroup boosted their price target on Veralto from $89.00 to $94.00 and gave the company a neutral rating in a research note on Monday, April 8th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $93.36.

Insider Buying and Selling at Veralto

In related news, insider Mattias Bystrom sold 500 shares of the company’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 sale, the insider now directly owns 30,310 shares of the company’s stock, valued at $2,609,691. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.31% of the stock is currently owned by corporate insiders.

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.