Veralto (NYSE:VLTO) Updates Q3 Earnings Guidance

Veralto (NYSE:VLTO) issued an update on its third quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.82-0.86 for the period, compared to the consensus earnings per share estimate of $0.82. Veralto also updated its FY 2024 guidance to 3.370-3.450 EPS.

Veralto Price Performance

NYSE VLTO traded up $5.26 during trading hours on Friday, hitting $104.87. The company had a trading volume of 2,971,930 shares, compared to its average volume of 1,581,389. The company has a debt-to-equity ratio of 1.76, a quick ratio of 1.56 and a current ratio of 1.83. Veralto has a 1-year low of $65.51 and a 1-year high of $107.86. The business has a 50 day moving average of $98.99 and a 200-day moving average of $90.99.

Veralto (NYSE:VLTO) last posted its quarterly earnings results on Thursday, July 25th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.04. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. Veralto’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 earnings per share. Analysts forecast that Veralto will post 3.37 earnings per share for the current fiscal year.

Veralto Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.09 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.34%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Veralto

In other news, SVP Mattias Bystrom sold 302 shares of the 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 transaction, the senior vice president now owns 34,045 shares of the company’s stock, valued at approximately $3,417,437.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.