Vertiv (NYSE:VRT) Releases FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.470-2.530 for the period, compared to the consensus estimate of 2.390. The company issued revenue guidance of $7.6 billion-$7.7 billion, compared to the consensus revenue estimate of $7.7 billion. Vertiv also updated its Q3 guidance to $0.65 to $0.69 EPS.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. The Goldman Sachs Group increased their price objective on Vertiv from $103.00 to $116.00 and gave the stock a buy rating in a research note on Friday, May 17th. JPMorgan Chase & Co. lifted their price target on Vertiv from $95.00 to $100.00 and gave the company an overweight rating in a report on Thursday, April 25th. Citigroup lifted their price target on Vertiv from $102.00 to $110.00 and gave the company a buy rating in a report on Thursday, April 25th. Oppenheimer lifted their price target on Vertiv from $96.00 to $98.00 and gave the company an outperform rating in a report on Thursday, April 25th. Finally, Evercore ISI lifted their price target on Vertiv from $95.00 to $105.00 and gave the company an outperform rating in a report on Friday, June 14th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Vertiv has a consensus rating of Moderate Buy and an average price target of $92.11.

Vertiv Stock Performance

Shares of VRT stock traded down $11.35 during trading on Wednesday, reaching $79.65. The company had a trading volume of 17,261,830 shares, compared to its average volume of 8,530,738. The firm’s 50 day simple moving average is $93.23 and its two-hundred day simple moving average is $79.59. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.34 and a quick ratio of 0.98. Vertiv has a one year low of $25.09 and a one year high of $109.27. The company has a market capitalization of $29.82 billion, a PE ratio of 76.76, a PEG ratio of 1.27 and a beta of 1.58.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, April 24th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.62 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 EPS. Sell-side analysts forecast that Vertiv will post 2.44 earnings per share for the current year.

Vertiv Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 26th. Shareholders of record on Monday, June 17th were given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend was Monday, June 17th. Vertiv’s dividend payout ratio is currently 9.62%.

Insiders Place Their Bets

In other Vertiv news, Director Doherty Philip O’ sold 488,705 shares of Vertiv stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.68, for a total value of $45,781,884.40. Following the transaction, the director now directly owns 11,835,476 shares of the company’s stock, valued at approximately $1,108,747,391.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Anders Karlborg sold 46,206 shares of Vertiv stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $93.75, for a total transaction of $4,331,812.50. Following the sale, the executive vice president now owns 23,003 shares of the company’s stock, valued at approximately $2,156,531.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Doherty Philip O’ sold 488,705 shares of Vertiv stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.68, for a total value of $45,781,884.40. Following the sale, the director now directly owns 11,835,476 shares in the company, valued at approximately $1,108,747,391.68. The disclosure for this sale can be found here. Insiders have sold a total of 4,162,739 shares of company stock valued at $400,713,362 in the last three months. Company insiders own 5.01% of the company’s stock.

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.