Veralto (NYSE:VLTO – Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.04, Briefing.com reports. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.30 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis.
Veralto Trading Down 1.6 %
Shares of VLTO traded down $1.74 during trading hours on Friday, reaching $104.05. The stock had a trading volume of 1,534,222 shares, compared to its average volume of 1,556,290. The company has a quick ratio of 1.70, a current ratio of 1.96 and a debt-to-equity ratio of 1.56. Veralto has a 52 week low of $65.51 and a 52 week high of $115.00. The firm has a 50-day moving average of $110.75 and a 200 day moving average of $102.73. The company has a market cap of $25.68 billion and a P/E ratio of 32.62.
Veralto Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Friday, September 27th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, September 27th. This represents a $0.36 annualized dividend and a dividend yield of 0.35%. Veralto’s payout ratio is currently 11.29%.
Insiders Place Their Bets
Analysts Set New Price Targets
VLTO has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. BMO Capital Markets raised their price target on Veralto from $117.00 to $119.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. Royal Bank of Canada upped their price objective on shares of Veralto from $108.00 to $111.00 and gave the company a “sector perform” rating in a research note on Friday. The Goldman Sachs Group raised their target price on shares of Veralto from $104.00 to $116.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Robert W. Baird increased their target price on Veralto from $98.00 to $112.00 and gave the stock a “neutral” rating in a research report on Monday, July 29th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $108.27.
Read Our Latest Stock Report on Veralto
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.
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