Vertiv (NYSE:VRT) Issues Q2 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its second quarter 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 0.530-0.570 for the period, compared to the consensus EPS estimate of 0.550. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $1.9 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Evercore ISI boosted their price target on shares of Vertiv from $90.00 to $95.00 and gave the stock an outperform rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on shares of Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a report on Thursday. Mizuho boosted their price target on shares of Vertiv from $56.00 to $95.00 and gave the stock a neutral rating in a report on Friday. Bank of America boosted their price target on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a report on Monday, March 18th. Finally, Oppenheimer boosted their price target on shares of Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a report on Thursday. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $81.11.

Vertiv Stock Up 3.5 %

VRT opened at $93.49 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.74 and a debt-to-equity ratio of 1.45. The stock has a market cap of $35.71 billion, a price-to-earnings ratio of 89.89, a PEG ratio of 1.44 and a beta of 1.59. Vertiv has a twelve month low of $13.73 and a twelve month high of $95.32. The company’s 50-day moving average price is $76.51 and its two-hundred day moving average price is $57.47.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, April 24th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Vertiv had a net margin of 5.79% and a return on equity of 42.43%. The company’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 earnings per share. As a group, equities analysts expect that Vertiv will post 2.35 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, March 19th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.11%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s payout ratio is currently 9.62%.

Insider Activity at Vertiv

In related news, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Stephen Liang sold 306,196 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the sale, the executive vice president now owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Scott Cripps sold 56,594 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. 5.62% of the stock is currently owned by corporate insiders.

Vertiv Company Profile

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.