Veralto (NYSE:VLTO) Issues Q3 Earnings Guidance

Veralto (NYSE:VLTO) updated its third quarter earnings guidance on Thursday. 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.

Analysts Set New Price Targets

A number of research firms recently commented on VLTO. Stifel Nicolaus lifted their target price on Veralto from $100.00 to $110.00 and gave the stock a buy rating in a report on Thursday, July 18th. Citigroup upped their price objective on shares of Veralto from $89.00 to $94.00 and gave the company a neutral rating in a report on Monday, April 8th. TD Cowen began coverage on shares of Veralto in a report on Monday, June 17th. They set a hold rating and a $95.00 target price for the company. Robert W. Baird upped their price target on shares of Veralto from $90.00 to $98.00 and gave the company a neutral rating in a report on Thursday, April 25th. Finally, BMO Capital Markets increased their price target on Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a research report on Thursday, April 25th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $97.08.

Veralto Price Performance

Shares of Veralto stock traded up $5.26 on Friday, hitting $104.87. The company’s stock had a trading volume of 3,164,725 shares, compared to its average volume of 1,589,276. The company has a market capitalization of $25.89 billion and a price-to-earnings ratio of 28.81. Veralto has a 1 year low of $65.51 and a 1 year high of $107.86. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. The firm has a fifty day moving average price of $98.99 and a 200-day moving average price of $91.09.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. Veralto had a return on equity of 62.93% and a net margin of 15.60%. The business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business earned $0.80 earnings per share. The business’s revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Veralto will post 3.43 earnings per share for the current fiscal year.

Veralto Announces Dividend

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

Insider Buying and Selling at Veralto

In related news, SVP Mattias Bystrom sold 302 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $100.38, for a total transaction of $30,314.76. Following the completion of the transaction, the senior vice president now owns 34,045 shares in the company, valued at approximately $3,417,437.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.31% of the company’s stock.

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.