Veralto (NYSE:VLTO – Get Free Report) announced its earnings results on Wednesday. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.04, Briefing.com reports. Veralto had a net margin of 15.60% and a return on equity of 58.82%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same quarter last year, the business earned $0.75 earnings per share. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.
Veralto Stock Down 1.6 %
Shares of Veralto stock traded down $1.74 on Friday, reaching $104.05. 1,534,222 shares of the company were exchanged, compared to its average volume of 1,556,290. The stock’s 50 day moving average price is $110.75 and its 200-day moving average price is $102.73. The company has a market cap of $25.68 billion and a P/E ratio of 32.62. Veralto has a 1-year low of $65.51 and a 1-year high of $115.00. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.96 and a quick ratio of 1.70.
Veralto Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, September 27th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date of this dividend is Friday, September 27th. Veralto’s dividend payout ratio is currently 11.29%.
Insiders Place Their Bets
Analyst Ratings Changes
A number of brokerages have weighed in on VLTO. The Goldman Sachs Group raised their price objective on Veralto from $104.00 to $116.00 and gave the company a “buy” rating in a report on Monday, July 29th. Stifel Nicolaus boosted their target price on Veralto from $117.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Robert W. Baird increased their price target on Veralto from $98.00 to $112.00 and gave the company a “neutral” rating in a report on Monday, July 29th. BMO Capital Markets upped their target price on Veralto from $117.00 to $119.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Finally, UBS Group began coverage on Veralto in a report on Tuesday, August 13th. They set a “neutral” rating and a $118.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $108.27.
Read Our Latest Analysis on VLTO
About Veralto
Veralto Corporation provides water analytics, water treatment, marking and coding, and packaging and color services worldwide. It operates through two segments, Water Quality (WQ) and Product Quality & Innovation (PQI). The WQ segment offers precision instrumentation and water treatment technologies to measure, analyze, and treat water in residential, commercial, municipal, industrial, research, and natural resource applications through the Hach, Trojan Technologies, and ChemTreat brands.
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