Veralto (NYSE:VLTO) Issues FY24 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $3.25-3.34 for the period, compared to the consensus earnings per share estimate of $3.29. Veralto also updated its FY 2024 guidance to 3.250-3.340 EPS.

Analysts Set New Price Targets

A number of research firms have issued reports on VLTO. Argus began coverage on Veralto in a research note on Tuesday, January 9th. They issued a buy rating and a $90.00 price objective on the stock. Royal Bank of Canada increased their price objective on Veralto from $78.00 to $91.00 and gave the stock a sector perform rating in a research report on Thursday, February 8th. Stifel Nicolaus raised their price objective on Veralto from $92.00 to $97.00 and gave the company a buy rating in a research report on Wednesday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Veralto in a research report on Wednesday, January 10th. They set a hold rating and a $79.00 price target on the stock. Finally, The Goldman Sachs Group began coverage on Veralto in a research note on Friday, March 22nd. They set a buy rating and a $104.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $95.18.

Veralto Stock Performance

VLTO stock traded down $0.31 during mid-day trading on Friday, hitting $93.48. The stock had a trading volume of 270,667 shares, compared to its average volume of 1,609,225. The company has a fifty day moving average of $88.37 and a 200 day moving average of $80.23. Veralto has a 1-year low of $65.51 and a 1-year high of $95.40. The company has a debt-to-equity ratio of 1.89, a quick ratio of 1.40 and a current ratio of 1.64.

Veralto (NYSE:VLTO) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.08. The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.23 billion. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, sell-side analysts expect that Veralto will post 3.26 EPS for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.39%. The ex-dividend date is Wednesday, March 27th.

Insiders Place Their Bets

In related news, insider Mattias Bystrom sold 500 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $86.10, for a total transaction of $43,050.00. Following the transaction, the insider now owns 30,310 shares of the company’s stock, valued at approximately $2,609,691. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.31% of the company’s stock.

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.