nVent Electric (NYSE:NVT) Issues Q4 2024 Earnings Guidance

by · The Markets Daily

nVent Electric (NYSE:NVT – Get Free Report) updated its fourth quarter 2024 earnings guidance on Friday. The company provided earnings per share guidance of 0.580-0.600 for the period, compared to the consensus earnings per share estimate of 0.820. The company issued revenue guidance of $955.9 million-$973.2 million, compared to the consensus revenue estimate of $929.9 million. nVent Electric also updated its FY 2024 guidance to 2.490-2.510 EPS.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NVT. KeyCorp upped their target price on nVent Electric from $80.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada reduced their price objective on nVent Electric from $82.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Barclays lowered their target price on nVent Electric from $87.00 to $86.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, nVent Electric currently has a consensus rating of “Buy” and an average target price of $85.33.

Check Out Our Latest Report on nVent Electric

nVent Electric Price Performance

NVT traded up $0.51 on Monday, reaching $68.79. The stock had a trading volume of 3,531,242 shares, compared to its average volume of 1,564,727. The firm has a 50-day moving average of $69.47 and a 200-day moving average of $73.12. nVent Electric has a fifty-two week low of $49.08 and a fifty-two week high of $86.57. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of 20.18, a price-to-earnings-growth ratio of 1.52 and a beta of 1.26. The company has a current ratio of 2.17, a quick ratio of 1.49 and a debt-to-equity ratio of 0.53.

nVent Electric (NYSE:NVT – Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.01). nVent Electric had a return on equity of 17.21% and a net margin of 16.59%. The firm had revenue of $880.30 million during the quarter, compared to analyst estimates of $892.89 million. During the same quarter last year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. As a group, sell-side analysts anticipate that nVent Electric will post 3.26 EPS for the current year.

nVent Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were paid a $0.19 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.76 annualized dividend and a dividend yield of 1.10%. nVent Electric’s dividend payout ratio is currently 22.22%.

Insider Buying and Selling

In other nVent Electric news, EVP Lynnette R. Heath sold 8,242 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. This 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 accessible through this hyperlink. In related news, insider Michael B. Faulconer sold 20,004 shares of nVent Electric stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $63.34, for a total transaction of $1,267,053.36. Following the transaction, the insider now owns 19,766 shares of the company’s stock, valued at $1,251,978.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Lynnette R. Heath sold 8,242 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $60.26, for a total value of $496,662.92. Following the transaction, the executive vice president now owns 30,432 shares in the company, valued at approximately $1,833,832.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is owned by insiders.

nVent Electric Company Profile

(Get Free Report)

nVent Electric plc, together with its subsidiaries, designs, manufactures, markets, installs, and services electrical connection and protection solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and internationally. The company operates through three segments: Enclosures, Electrical & Fastening Solutions, and Thermal Management.

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