Vertiv (NYSE:VRT) Issues Q4 2024 Earnings Guidance

Vertiv (NYSE:VRT) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 0.800-0.840 for the period, compared to the consensus estimate of 0.750. The company issued revenue guidance of $2.1 billion-$2.2 billion, compared to the consensus revenue estimate of $2.2 billion. Vertiv also updated its FY 2024 guidance to 2.660-2.700 EPS.

Vertiv Trading Up 3.3 %

Shares of NYSE:VRT traded up $3.68 during mid-day trading on Friday, hitting $113.71. The stock had a trading volume of 2,276,383 shares, compared to its average volume of 8,357,734. Vertiv has a 12-month low of $34.60 and a 12-month high of $116.41. 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 company has a market cap of $42.57 billion, a PE ratio of 109.72, a P/E/G ratio of 1.42 and a beta of 1.59. The company’s 50 day moving average is $92.92 and its 200-day moving average is $89.97.

Vertiv (NYSE:VRT) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.07. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $1.98 billion. Vertiv had a return on equity of 50.79% and a net margin of 6.93%. Vertiv’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, sell-side analysts predict that Vertiv will post 2.58 EPS for the current 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 issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.09%. The ex-dividend date of this dividend was Tuesday, September 17th. Vertiv’s dividend payout ratio is currently 9.62%.

Wall Street Analysts Forecast Growth

VRT has been the topic of a number of research analyst reports. Jefferies Financial Group began coverage on shares of Vertiv in a research note on Monday, October 7th. They issued a “buy” rating and a $125.00 target price on the stock. Oppenheimer raised their price target on Vertiv from $115.00 to $121.00 and gave the company an “outperform” rating in a research report on Thursday. Bank of America boosted their price objective on Vertiv from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho raised their target price on Vertiv from $110.00 to $125.00 and gave the company an “outperform” rating in a report on Thursday. Finally, The Goldman Sachs Group decreased their price target on shares of Vertiv from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Thursday, July 25th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $122.11.

Insider Activity at Vertiv

In related news, insider Karsten Winther sold 44,924 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $79.99, for a total value of $3,593,470.76. Following the completion of the transaction, the insider now directly owns 10,542 shares in the company, valued at approximately $843,254.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.01% of the stock is owned by company 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.