Vertiv (NYSE:VRT) Updates FY24 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.29-2.35 for the period, compared to the consensus earnings per share estimate of $2.30. The company issued revenue guidance of $7.54-7.69 billion, compared to the consensus revenue estimate of $7.63 billion. Vertiv also updated its FY 2024 guidance to 2.290-2.350 EPS.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Oppenheimer assumed coverage on shares of Vertiv in a research note on Friday, April 5th. They set an outperform rating and a $96.00 price target for the company. Mizuho boosted their price target on shares of Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research note on Thursday, February 22nd. Evercore ISI boosted their price target on shares of Vertiv from $80.00 to $90.00 and gave the stock an outperform rating in a research note on Friday, April 5th. Citigroup boosted their price target on shares of Vertiv from $69.00 to $102.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, Bank of America boosted their price target on shares of Vertiv from $80.00 to $90.00 and gave the stock a buy rating in a research note on Monday, March 18th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $74.56.

Vertiv Trading Up 6.8 %

NYSE:VRT traded up $5.36 during trading hours on Wednesday, hitting $84.53. The stock had a trading volume of 28,768,103 shares, compared to its average volume of 7,897,745. Vertiv has a one year low of $12.22 and a one year high of $94.39. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.35 and a current ratio of 1.74. The company has a market cap of $32.29 billion, a price-to-earnings ratio of 71.64, a P/E/G ratio of 1.21 and a beta of 1.59. The business’s 50 day moving average is $74.96 and its 200-day moving average is $56.68.

Vertiv (NYSE:VRT) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.03. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.88 billion. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Sell-side analysts anticipate that Vertiv will post 2.36 EPS for the current fiscal year.

Vertiv Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, March 19th were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.12%. The ex-dividend date of this dividend was Monday, March 18th. Vertiv’s dividend payout ratio (DPR) is presently 8.47%.

Insider Activity

In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Scott Cripps sold 56,594 shares of the stock in a transaction on Friday, March 8th. The shares were sold at an average price of $70.76, for a total transaction of $4,004,591.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Liang sold 306,196 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $70.24, for a total transaction of $21,507,207.04. Following the transaction, the executive vice president now owns 51,841 shares of the company’s stock, valued at approximately $3,641,311.84. The disclosure for this sale can be found here. Corporate insiders own 5.62% of the company’s stock.

About Vertiv

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.