Veralto (NYSE:VLTO) Issues Q2 Earnings Guidance

Veralto (NYSE:VLTO) updated its second quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.75-0.80 for the period, compared to the consensus EPS estimate of $0.80. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Analyst Ratings Changes

Several analysts have weighed in on the company. Citigroup boosted their price objective on Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. Royal Bank of Canada upped their price target on Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a research note on Thursday, February 8th. Deutsche Bank Aktiengesellschaft assumed coverage on Veralto in a research note on Wednesday, January 10th. They issued a hold rating and a $79.00 price target for the company. Robert W. Baird upped their price target on Veralto from $90.00 to $98.00 and gave the company a neutral rating in a research note on Thursday. Finally, Stifel Nicolaus increased their target price on Veralto from $92.00 to $97.00 and gave the stock a buy rating in a research note on Wednesday, April 17th. 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 MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $95.18.

Veralto Stock Down 0.6 %

VLTO traded down $0.58 during trading hours on Friday, reaching $93.21. The company’s stock had a trading volume of 237,633 shares, compared to its average volume of 1,608,724. Veralto has a 52 week low of $65.51 and a 52 week high of $95.40. The company has a quick ratio of 1.40, a current ratio of 1.64 and a debt-to-equity ratio of 1.89. The company’s 50-day moving average is $88.37 and its 200-day moving average is $80.23.

Veralto (NYSE:VLTO) last posted its earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. Veralto’s quarterly revenue was up 1.7% compared to the same quarter last year. Sell-side analysts forecast that Veralto will post 3.26 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently declared 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. This represents a $0.36 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Wednesday, March 27th.

Insider Activity at Veralto

In other Veralto news, insider Mattias Bystrom sold 500 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the completion of the transaction, the insider now 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 can be accessed through this hyperlink. 0.31% of the stock is owned by 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.