Veralto (NYSE:VLTO) Releases FY24 Earnings Guidance

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

Veralto Trading Up 1.5 %

Shares of VLTO stock traded up $1.39 during midday trading on Thursday, reaching $93.79. 1,785,282 shares of the company traded hands, compared to its average volume of 1,625,037. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.64 and a quick ratio of 1.40. Veralto has a 1-year low of $65.51 and a 1-year high of $95.40. The firm’s 50 day simple moving average is $88.37 and its two-hundred day simple moving average is $80.23.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.23 billion. The business’s quarterly revenue was up 1.7% on a year-over-year basis. Equities research analysts anticipate that Veralto will post 3.26 EPS for the current year.

Veralto Dividend Announcement

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

Analysts Set New Price Targets

VLTO has been the subject of several research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Veralto in a research report on Wednesday, January 10th. They set a hold rating and a $79.00 price objective for the company. Argus initiated coverage on Veralto in a report on Tuesday, January 9th. They issued a buy rating and a $90.00 price target for the company. Royal Bank of Canada boosted their price target on Veralto from $78.00 to $91.00 and gave the company a sector perform rating in a report on Thursday, February 8th. Robert W. Baird boosted their price target on Veralto from $90.00 to $98.00 and gave the company a neutral rating in a report on Thursday. Finally, The Goldman Sachs Group initiated coverage on Veralto in a report on Friday, March 22nd. They issued a buy rating and a $104.00 price target for the company. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $95.18.

Insider Activity

In other 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 completion of the sale, the insider now directly owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.31% of the company’s stock.

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.