Vertiv (NYSE:VRT) Updates FY24 Earnings Guidance

Vertiv (NYSE:VRT - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.29-2.35 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of research firms have commented on VRT. Citigroup raised their target price on shares of Vertiv from $69.00 to $102.00 and gave the company a buy rating in a research report on Monday, April 8th. Oppenheimer began coverage on shares of Vertiv in a research report on Friday, April 5th. They issued an outperform rating and a $96.00 price objective on the stock. Mizuho lifted their price objective on shares of Vertiv from $50.00 to $56.00 and gave the stock a neutral rating in a research report on Thursday, February 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Vertiv from $65.00 to $95.00 and gave the stock an overweight rating in a research report on Thursday, April 11th. Finally, Evercore ISI lifted their price objective on shares of Vertiv from $80.00 to $90.00 and gave the stock an outperform rating in a research report on Friday, April 5th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Vertiv currently has an average rating of Moderate Buy and an average price target of $74.56.

Vertiv Stock Performance

NYSE:VRT traded up $5.36 during trading hours on Wednesday, hitting $84.53. 28,768,103 shares of the company were exchanged, compared to its average volume of 7,897,745. The stock has a market capitalization of $32.29 billion, a price-to-earnings ratio of 71.64, a PEG ratio of 1.21 and a beta of 1.59. Vertiv has a 52-week low of $12.22 and a 52-week high of $94.39. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.74 and a quick ratio of 1.35. The company's 50 day moving average price is $75.35 and its 200-day moving average price is $56.87.

Vertiv (NYSE:VRT - Get Free Report) last released its earnings results on Wednesday, February 21st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Vertiv had a net margin of 6.71% and a return on equity of 39.46%. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter in the previous year, the firm earned $0.28 EPS. Vertiv's revenue was up 12.7% compared to the same quarter last year. As a group, research analysts forecast that Vertiv will post 2.36 earnings per share for the current year.

Vertiv Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, March 19th were paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.12%. The ex-dividend date was Monday, March 18th. Vertiv's payout ratio is 8.47%.

Insider Buying and Selling at Vertiv

In other Vertiv news, CAO Scott Cripps sold 56,594 shares of Vertiv stock in a transaction that occurred 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 can be accessed through this hyperlink. In related news, EVP Stephen Liang sold 306,196 shares of the business's stock in a transaction on Friday, March 1st. The shares were sold at an average price of $70.24, for a total value of $21,507,207.04. Following the completion of the transaction, the executive vice president now directly owns 51,841 shares in the company, valued at approximately $3,641,311.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Scott Cripps sold 56,594 shares of the company's stock in a transaction on Friday, March 8th. The stock was sold at an average price of $70.76, for a total transaction of $4,004,591.44. The disclosure for this sale can be found here. Company insiders own 5.62% 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.