Vertiv (NYSE:VRT) Releases Q3 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its third quarter 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.650-0.690 for the period, compared to the consensus earnings per share estimate of 0.630. The company issued revenue guidance of $1.9 billion-$2.0 billion, compared to the consensus revenue estimate of $2.0 billion. Vertiv also updated its FY 2024 guidance to 2.470-2.530 EPS.

Analyst Upgrades and Downgrades

Several research firms recently commented on VRT. JPMorgan Chase & Co. raised their target price on Vertiv from $95.00 to $100.00 and gave the stock an overweight rating in a report on Thursday, April 25th. The Goldman Sachs Group dropped their target price on Vertiv from $116.00 to $104.00 and set a buy rating on the stock in a report on Thursday. Bank of America raised their target price on Vertiv from $100.00 to $115.00 and gave the stock a buy rating in a report on Wednesday, May 15th. Oppenheimer raised their target price on Vertiv from $96.00 to $98.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Finally, Citigroup raised their target price on Vertiv from $102.00 to $110.00 and gave the stock a buy rating in a report on Thursday, April 25th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $90.78.

Vertiv Price Performance

Shares of NYSE VRT traded down $0.61 during midday trading on Thursday, hitting $77.98. The stock had a trading volume of 13,706,312 shares, compared to its average volume of 8,602,764. The company has a market capitalization of $29.19 billion, a PE ratio of 75.65, a P/E/G ratio of 1.32 and a beta of 1.58. The stock has a 50 day simple moving average of $92.71 and a 200-day simple moving average of $79.58. Vertiv has a 1 year low of $25.09 and a 1 year high of $109.27. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 2.09.

Vertiv (NYSE:VRT) last released its earnings results on Wednesday, July 24th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $1.95 billion for the quarter, compared to the consensus estimate of $1.94 billion. Vertiv had a return on equity of 44.95% and a net margin of 5.79%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share. On average, sell-side analysts expect that Vertiv will post 2.44 EPS for the current fiscal year.

Vertiv Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 26th. Stockholders of record on Monday, June 17th were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.13%. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Buying and Selling

In related news, Director Doherty Philip O’ sold 2,511,295 shares of Vertiv stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the transaction, the director now owns 9,324,181 shares in the company, valued at $873,116,308.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Doherty Philip O’ sold 2,511,295 shares of Vertiv stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $93.64, for a total transaction of $235,157,663.80. Following the transaction, the director now owns 9,324,181 shares in the company, valued at $873,116,308.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Roger Fradin sold 16,667 shares of Vertiv stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $103.86, for a total value of $1,731,034.62. Following the transaction, the director now owns 218,333 shares in the company, valued at approximately $22,676,065.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,162,739 shares of company stock worth $400,713,362. 5.01% 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.