Vertiv (NYSE:VRT) Updates FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.660-2.700 for the period, compared to the consensus earnings per share estimate of 2.490. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.7 billion. Vertiv also updated its Q4 guidance to $0.80-0.84 EPS.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Mizuho boosted their price target on Vertiv from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lowered their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Oppenheimer boosted their price target on Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price target on the stock. Finally, TD Cowen boosted their price target on Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $112.44.

Vertiv Stock Performance

Shares of VRT stock traded down $1.16 during trading on Wednesday, reaching $111.31. 11,335,601 shares of the company’s stock were exchanged, compared to its average volume of 8,351,733. The company has a quick ratio of 1.00, a current ratio of 1.36 and a debt-to-equity ratio of 1.90. The stock has a market capitalization of $41.67 billion, a PE ratio of 108.90, a PEG ratio of 1.42 and a beta of 1.59. Vertiv has a twelve month low of $34.60 and a twelve month high of $116.41. The firm’s fifty day moving average price is $91.81 and its 200-day moving average price is $89.70.

Vertiv (NYSE:VRT) last posted its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.94 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.46 EPS. As a group, sell-side analysts anticipate that Vertiv will post 2.58 EPS for the current year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 17th were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is 9.62%.

Insider Buying and Selling at Vertiv

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the transaction, the insider now directly owns 10,542 shares of the company’s stock, valued at $843,254.58. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.01% of the company’s stock.

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.