Veralto (NYSE:VLTO) Releases FY24 Earnings Guidance

Veralto (NYSE:VLTO) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.37-3.45 for the period, compared to the consensus estimate of $3.33. Veralto also updated its FY 2024 guidance to 3.370-3.450 EPS.

Analysts Set New Price Targets

Several research firms have recently weighed in on VLTO. BMO Capital Markets upped their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $101.00 price target on shares of Veralto in a report on Friday, June 14th. Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. TD Cowen assumed coverage on shares of Veralto in a report on Monday, June 17th. They issued a hold rating and a $95.00 price target on the stock. Finally, Robert W. Baird increased their target price on Veralto from $90.00 to $98.00 and gave the company a neutral rating in a research note on Thursday, April 25th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Veralto presently has a consensus rating of Moderate Buy and an average price target of $97.08.

Veralto Price Performance

Shares of Veralto stock traded up $5.26 during trading on Friday, hitting $104.87. The company’s stock had a trading volume of 2,971,930 shares, compared to its average volume of 1,581,389. The company has a quick ratio of 1.56, a current ratio of 1.83 and a debt-to-equity ratio of 1.76. The company has a fifty day simple moving average of $98.99 and a two-hundred day simple moving average of $90.99. Veralto has a 52 week low of $65.51 and a 52 week high of $107.86.

Veralto (NYSE:VLTO) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, equities research analysts forecast that Veralto will post 3.37 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date of this dividend is Friday, June 28th.

Insider Buying and Selling

In related news, SVP Mattias Bystrom sold 302 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total value of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.31% of the stock is currently owned by insiders.

Veralto Company Profile

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.