Vertiv (NYSE:VRT) Releases FY 2024 Earnings Guidance

24 Oct 2024, 19:52 by Tristan Rich · The Markets Daily

Vertiv (NYSE:VRT – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 2.660-2.700 for the period, compared to the consensus earnings per share 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 Trading Up 0.9 %

VRT traded up $1.02 during trading on Thursday, reaching $109.38. 4,675,277 shares of the company’s stock were exchanged, compared to its average volume of 8,369,804. The company’s fifty day moving average price is $92.37 and its 200-day moving average price is $89.83. The firm has a market capitalization of $40.95 billion, a PE ratio of 105.01, a P/E/G ratio of 1.42 and a beta of 1.59. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36.

Vertiv (NYSE:VRT – Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.07. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $1.98 billion. During the same quarter last year, the firm earned $0.52 EPS. Vertiv’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts forecast that Vertiv will post 2.58 EPS for the current year.

Vertiv Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VRT. Jefferies Financial Group started coverage on Vertiv in a report on Monday, October 7th. They issued a “buy” rating and a $125.00 price target on the stock. TD Cowen lifted their price objective on shares of Vertiv from $93.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America upped their target price on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a report on Thursday. Citigroup boosted their price target on Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Mizuho raised their price objective on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a research report on Thursday. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $122.11.

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Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the sale, the insider now owns 10,542 shares of the company’s stock, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 5.01% of the company’s stock.

Vertiv Company Profile

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