Vertiv (NYSE:VRT) Updates Q4 Earnings Guidance

Vertiv (NYSE:VRT) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.80-0.84 for the period, compared to the consensus earnings per share estimate of $0.75. The company issued revenue guidance of $2.12-2.17 million, compared to the consensus revenue estimate of $2.16 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Analyst Ratings Changes

A number of research firms have recently issued reports on VRT. Evercore ISI increased their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday. Oppenheimer increased their price target on Vertiv from $115.00 to $121.00 and gave the stock an “outperform” rating in a research report on Thursday. The Goldman Sachs Group dropped their price target on Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Citigroup raised their price objective on Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Jefferies Financial Group assumed coverage on Vertiv in a research report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $122.11.

Vertiv Stock Up 2.9 %

NYSE VRT traded up $3.22 during trading on Friday, hitting $113.25. The company’s stock had a trading volume of 3,320,334 shares, compared to its average volume of 8,362,778. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The company has a market cap of $42.39 billion, a PE ratio of 109.34, a P/E/G ratio of 1.42 and a beta of 1.59. The business’s 50 day simple moving average is $92.92 and its 200-day simple moving average is $89.97. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41.

Vertiv (NYSE:VRT) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $1.98 billion. During the same period last year, the business posted $0.52 earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities analysts anticipate that Vertiv will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s payout ratio is 9.62%.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of Vertiv stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total transaction of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.01% of the stock is owned by company insiders.

About Vertiv

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.