Vertiv (NYSE:VRT) Updates FY 2024 Earnings Guidance

Vertiv (NYSE:VRT) updated its FY 2024 earnings guidance on Wednesday. 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.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Vertiv from $110.00 to $125.00 and gave the stock an “outperform” rating in a research note on Thursday. 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 for the company. Citigroup boosted their target price on shares of Vertiv from $130.00 to $134.00 and gave the company a “buy” rating in a report on Thursday. Evercore ISI boosted their price target on Vertiv from $125.00 to $135.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Bank of America upped their price objective on shares of Vertiv from $130.00 to $140.00 and gave the company a “buy” rating in a research report on Thursday. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $122.11.

Vertiv Price Performance

Shares of VRT traded up $3.68 during mid-day trading on Friday, hitting $113.71. The company’s stock had a trading volume of 2,276,383 shares, compared to its average volume of 8,357,734. The company has a debt-to-equity ratio of 1.90, a current ratio of 1.36 and a quick ratio of 1.00. The firm has a 50-day moving average price of $92.92 and a 200 day moving average price of $89.97. Vertiv has a fifty-two week low of $34.60 and a fifty-two week high of $116.41. The stock has a market capitalization of $42.57 billion, a price-to-earnings ratio of 109.72, a PEG ratio of 1.42 and a beta of 1.59.

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

Vertiv Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 17th were paid 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 of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio (DPR) is presently 9.62%.

Insider Buying and Selling

In other Vertiv news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were 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 owns 10,542 shares of the company’s stock, valued at $843,254.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.01% of the stock is owned by 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.