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

Shares of NYSE VRT opened at $93.49 on Friday. The business has a fifty day simple moving average of $76.51 and a 200 day simple moving average of $57.47. 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 $35.71 billion, a price-to-earnings ratio of 89.89, a PEG ratio of 1.44 and a beta of 1.59. Vertiv has a one year low of $13.73 and a one year high of $95.32.

Vertiv (NYSE:VRT) last issued its earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.62 billion. Vertiv had a return on equity of 42.43% and a net margin of 5.79%. Vertiv’s revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 earnings per share. Sell-side analysts expect that Vertiv will post 2.35 EPS for the current year.

Vertiv Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were paid a $0.025 dividend. The ex-dividend date was Monday, March 18th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. Vertiv’s payout ratio is 9.62%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Evercore ISI increased their price objective on Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a research note on Thursday. Oppenheimer increased their price objective on Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a research note on Thursday. Mizuho increased their price objective on Vertiv from $56.00 to $95.00 and gave the stock a neutral rating in a research note on Friday. Bank of America increased their price objective on Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. Finally, Citigroup increased their price objective on Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $81.11.

Insider Activity at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was 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 accessible through this link. In related news, CAO Scott Cripps sold 56,594 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was 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 accessible through this link. Also, EVP Stephen Liang sold 306,196 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $70.24, for a total value of $21,507,207.04. Following the transaction, the executive vice president now 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 owned by company insiders.

About Vertiv

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.