Veralto (NYSE:VLTO) Issues Q3 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.82-0.86 for the period, compared to the consensus estimate of $0.82. Veralto also updated its FY 2024 guidance to 3.370-3.450 EPS.

Wall Street Analysts Forecast Growth

VLTO has been the topic of a number of research analyst reports. Stifel Nicolaus lifted their target price on Veralto from $100.00 to $110.00 and gave the company a buy rating in a report on Thursday, July 18th. BMO Capital Markets raised their price objective on Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Robert W. Baird boosted their target price on Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a report on Thursday, April 25th. TD Cowen started 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, Citigroup upped their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $97.08.

Veralto Stock Up 5.3 %

Shares of Veralto stock traded up $5.26 during trading hours on Friday, hitting $104.87. 3,164,725 shares of the company’s stock traded hands, compared to its average volume of 1,589,276. Veralto has a twelve month low of $65.51 and a twelve month high of $107.86. The company has a market cap of $25.89 billion and a PE ratio of 28.81. 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 stock has a 50 day simple moving average of $98.99 and a 200-day simple moving average of $91.09.

Veralto (NYSE:VLTO) last issued 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 during the quarter, compared to analyst estimates of $1.28 billion. Veralto had a return on equity of 62.93% and a net margin of 15.60%. Veralto’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. Equities research analysts anticipate that Veralto will post 3.43 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.09 per share. The ex-dividend date is Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.34%. Veralto’s payout ratio is 9.89%.

Insider Activity at Veralto

In other Veralto news, SVP Mattias Bystrom sold 302 shares of the stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $100.38, for a total transaction of $30,314.76. Following the transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.31% of the stock is owned by corporate insiders.

About Veralto

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.