Vertiv (NYSE:VRT) Releases FY24 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.29-2.35 for the period, compared to the consensus estimate of $2.30. The company issued revenue guidance of $7.54-7.69 billion, compared to the consensus revenue estimate of $7.63 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of Vertiv from $56.00 to $95.00 and gave the company a neutral rating in a report on Friday. Evercore ISI boosted their price objective on shares of Vertiv from $90.00 to $95.00 and gave the company an outperform rating in a report on Thursday. Oppenheimer boosted their price objective on shares of Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a report on Thursday. Citigroup boosted their price objective on shares of Vertiv from $102.00 to $110.00 and gave the company a buy rating in a report on Thursday. Finally, Bank of America boosted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the company a buy rating in a report on Monday, March 18th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $81.11.

Vertiv Trading Up 3.5 %

NYSE VRT opened at $93.49 on Friday. The company has a fifty day moving average of $76.51 and a 200 day moving average of $57.47. The company has a market capitalization of $35.71 billion, a PE ratio of 89.89, a P/E/G ratio of 1.44 and a beta of 1.59. Vertiv has a 1 year low of $13.73 and a 1 year high of $95.32. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35.

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

Vertiv Dividend Announcement

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

Insider Buying and Selling at Vertiv

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