Vertiv (NYSE:VRT) Releases Q2 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.53-0.57 for the period, compared to the consensus estimate of $0.55. The company issued revenue guidance of $1.90-1.95 billion, compared to the consensus revenue estimate of $1.90 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Vertiv Stock Performance

NYSE VRT traded up $5.71 during trading hours on Thursday, hitting $90.28. 9,020,445 shares of the company’s stock traded hands, compared to its average volume of 7,901,099. The business’s fifty day moving average price is $75.35 and its two-hundred day moving average price is $56.87. 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 has a market capitalization of $34.48 billion, a P/E ratio of 75.42, a P/E/G ratio of 1.26 and a beta of 1.59. Vertiv has a 52 week low of $13.06 and a 52 week high of $94.39.

Vertiv (NYSE:VRT) last announced its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 earnings per share. Equities research analysts predict that Vertiv will post 2.36 EPS for the current year.

Vertiv Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price target on shares of Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a research note on Thursday. Evercore ISI increased their target price on shares of Vertiv from $90.00 to $95.00 and gave the company an outperform rating in a research note on Thursday. Oppenheimer increased their target price on shares of Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a research note on Thursday. Bank of America increased their target price on shares of Vertiv from $80.00 to $90.00 and gave the company a buy rating in a research note on Monday, March 18th. Finally, Citigroup increased their target price on shares of Vertiv from $69.00 to $102.00 and gave the company a buy rating in a research note on Monday, April 8th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $75.89.

Insiders Place Their Bets

In related news, CAO Scott Cripps sold 56,594 shares of Vertiv 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Vertiv news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen Liang sold 306,196 shares of Vertiv stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, 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.