Vertiv (NYSE:VRT) Releases Q4 Earnings Guidance

Vertiv (NYSE:VRT) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.80-0.84 for the period, compared to the consensus EPS estimate of $0.75. The company issued revenue guidance of $2.12-2.17 million, compared to the consensus revenue estimate of $2.16 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Vertiv Stock Up 1.0 %

VRT traded up $1.04 on Thursday, hitting $109.40. The company had a trading volume of 5,344,433 shares, compared to its average volume of 8,373,172. The stock has a market capitalization of $40.95 billion, a price-to-earnings ratio of 105.01, a P/E/G ratio of 1.42 and a beta of 1.59. The company has a debt-to-equity ratio of 1.90, a quick ratio of 1.00 and a current ratio of 1.36. The stock has a fifty day moving average price of $92.37 and a 200-day moving average price of $89.83. Vertiv has a 12-month low of $34.60 and a 12-month high of $116.41.

Vertiv (NYSE:VRT) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.69 by $0.07. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $1.98 billion. Vertiv had a net margin of 6.93% and a return on equity of 50.79%. Vertiv’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS. Analysts predict that Vertiv will post 2.58 EPS for the current fiscal year.

Vertiv Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. Vertiv’s dividend payout ratio is presently 9.62%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on VRT. Evercore ISI upped their target price on Vertiv from $125.00 to $135.00 and gave the company an “outperform” rating in a research report on Thursday. Jefferies Financial Group assumed coverage on shares of Vertiv in a report on Monday, October 7th. They set a “buy” rating and a $125.00 price objective on the stock. Mizuho lifted their target price on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup boosted their target price on shares of Vertiv from $130.00 to $134.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Bank of America raised their price target on shares of Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $122.11.

Insider Buying and Selling at Vertiv

In other news, insider Karsten Winther sold 44,924 shares of the stock in a transaction on 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 sale, the insider now owns 10,542 shares in the company, valued at $843,254.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 5.01% of the company’s stock.

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.