Vertiv (NYSE:VRT) Issues Q4 Earnings Guidance

Vertiv (NYSE:VRT) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.80-0.84 for the period, compared to the consensus EPS estimate of $0.75. The company issued revenue guidance of $2.12-2.17 million, compared to the consensus revenue estimate of $2.16 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Mizuho raised their target price on shares of Vertiv from $92.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI lifted their price objective on shares of Vertiv from $105.00 to $125.00 and gave the stock an “outperform” rating in a research note on Monday, October 7th. TD Cowen lifted their price objective on shares of Vertiv from $89.00 to $93.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Oppenheimer lifted their price objective on shares of Vertiv from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lowered their price objective on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $112.44.

Vertiv Trading Down 2.5 %

Shares of VRT traded down $2.81 during midday trading on Wednesday, hitting $109.66. The stock had a trading volume of 13,794,462 shares, compared to its average volume of 8,363,728. The company has a current ratio of 1.36, a quick ratio of 1.00 and a debt-to-equity ratio of 1.90. The firm has a market cap of $41.05 billion, a P/E ratio of 108.90, a price-to-earnings-growth ratio of 1.42 and a beta of 1.59. The business has a 50-day simple moving average of $91.81 and a two-hundred day simple moving average of $89.70. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41.

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

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 9.62%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now directly owns 10,542 shares in the company, valued at $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.01% of the stock is currently owned by corporate 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.