Vertiv (NYSE:VRT) Releases FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 2.660-2.700 for the period, compared to the consensus EPS estimate of 2.490. The company issued revenue guidance of $7.8 billion-$7.8 billion, compared to the consensus revenue estimate of $7.7 billion. Vertiv also updated its Q4 guidance to $0.80-0.84 EPS.

Vertiv Price Performance

Vertiv stock traded up $1.02 during mid-day trading on Thursday, reaching $109.38. 4,675,277 shares of the company were exchanged, compared to its average volume of 8,369,804. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. Vertiv has a 12 month low of $34.60 and a 12 month high of $116.41. The firm has a market cap of $40.95 billion, a PE ratio of 105.01, a PEG ratio of 1.42 and a beta of 1.59. The company has a fifty day simple moving average of $92.37 and a 200-day simple moving average of $89.83.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.07. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. The company had revenue of $2.07 billion for the quarter, compared to analysts’ expectations of $1.98 billion. During the same quarter last year, the business earned $0.52 earnings per share. Vertiv’s revenue was up 19.0% on a year-over-year basis. As a group, equities research analysts expect that Vertiv will post 2.58 earnings per share for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 17th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.09%. The ex-dividend date was Tuesday, September 17th. Vertiv’s payout ratio is currently 9.62%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VRT shares. Evercore ISI raised their price objective on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Thursday. Oppenheimer raised their price objective on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research note on Thursday. Mizuho raised their price objective on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen raised their price objective on Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Bank of America raised their price objective on Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research note on Thursday. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Vertiv currently has an average rating of “Buy” and an average price target of $122.11.

Insider Transactions at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the firm’s stock in a transaction dated 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 $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 is available through the SEC website. 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.