Veralto (NYSE:VLTO) Issues Q3 2024 Earnings Guidance

Veralto (NYSE:VLTO) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.820-0.860 for the period, compared to the consensus EPS estimate of 0.830. The company issued revenue guidance of -. Veralto also updated its FY 2024 guidance to 3.370-3.450 EPS.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reissued a sector perform rating and issued a $101.00 price target on shares of Veralto in a report on Friday, June 14th. Citigroup boosted their price target on shares of Veralto from $89.00 to $94.00 and gave the stock a neutral rating in a report on Monday, April 8th. Stifel Nicolaus boosted their price target on shares of Veralto from $100.00 to $110.00 and gave the stock a buy rating in a report on Thursday, July 18th. BMO Capital Markets boosted their price target on shares of Veralto from $97.00 to $101.00 and gave the stock an outperform rating in a report on Thursday, April 25th. Finally, Robert W. Baird boosted their price target on shares of Veralto from $90.00 to $98.00 and gave the stock a neutral rating in a report on Thursday, April 25th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Veralto has a consensus rating of Moderate Buy and an average target price of $97.08.

Veralto Trading Up 0.3 %

Shares of VLTO traded up $0.31 during midday trading on Thursday, hitting $99.61. 1,683,868 shares of the company traded hands, compared to its average volume of 1,571,144. The stock has a 50-day moving average of $98.86 and a 200-day moving average of $90.80. Veralto has a one year low of $65.51 and a one year high of $102.58. The company has a current ratio of 1.83, a quick ratio of 1.56 and a debt-to-equity ratio of 1.76.

Veralto (NYSE:VLTO) last announced its quarterly earnings results on Tuesday, April 23rd. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.23 billion. The company’s revenue was up 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Veralto will post 3.37 EPS for the current fiscal year.

Veralto Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, June 28th.

Insider Activity

In other news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was 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 of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Mattias Bystrom sold 302 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was 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 of the company’s stock, valued at $3,417,437.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Melissa Aquino sold 8,041 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $93.56, for a total value of $752,315.96. Following the completion of the sale, the senior vice president now directly owns 20,761 shares of the company’s stock, valued at approximately $1,942,399.16. The disclosure for this sale can be found here. Company insiders own 0.31% of the company’s stock.

About Veralto

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.