Vertiv (NYSE:VRT) Updates Q2 Earnings Guidance

Vertiv (NYSE:VRTGet Rating) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.07-$0.13 for the period, compared to the Thomson Reuters consensus estimate of $0.10. The company issued revenue guidance of $1.31-$1.36 billion, compared to the consensus revenue estimate of $1.36 billion.Vertiv also updated its FY22 guidance to $0.67-$0.77 EPS.

Shares of NYSE VRT opened at $11.54 on Wednesday. Vertiv has a 12-month low of $9.59 and a 12-month high of $28.80. The stock has a market cap of $4.34 billion, a PE ratio of 34.97, a P/E/G ratio of 1.18 and a beta of 1.14. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 2.08. The company has a 50-day moving average of $13.21 and a 200 day moving average of $20.31.

Vertiv (NYSE:VRTGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.24). Vertiv had a net margin of 2.39% and a return on equity of 30.27%. The business had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $0.33 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. On average, sell-side analysts forecast that Vertiv will post 0.64 EPS for the current fiscal year.

Several analysts have recently weighed in on VRT shares. Cowen cut shares of Vertiv from an outperform rating to a market perform rating and set a $11.50 price target for the company. in a research note on Thursday, February 24th. The Goldman Sachs Group decreased their price objective on shares of Vertiv from $18.00 to $16.00 and set a buy rating on the stock in a report on Tuesday, March 22nd. JPMorgan Chase & Co. upgraded shares of Vertiv from a neutral rating to an overweight rating and decreased their price objective for the stock from $29.00 to $18.00 in a report on Friday, April 1st. TheStreet lowered shares of Vertiv from a c- rating to a d rating in a report on Wednesday, February 23rd. Finally, Vertical Research reissued a hold rating and issued a $15.00 price target on shares of Vertiv in a research report on Wednesday, February 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of Hold and an average price target of $19.65.

In related news, CEO Robert Joseph Johnson sold 100,000 shares of the business’s stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $12.77, for a total transaction of $1,277,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Patrick R. Johnson acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 3rd. The shares were bought at an average cost of $11.50 per share, for a total transaction of $115,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 38,000 shares of company stock worth $475,960. Company insiders own 5.06% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. NEXT Financial Group Inc lifted its holdings in shares of Vertiv by 235.1% in the fourth quarter. NEXT Financial Group Inc now owns 1,793 shares of the company’s stock valued at $44,000 after purchasing an additional 1,258 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Vertiv by 226.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,205 shares of the company’s stock valued at $105,000 after buying an additional 2,915 shares during the last quarter. JustInvest LLC raised its position in shares of Vertiv by 83.3% in the fourth quarter. JustInvest LLC now owns 17,542 shares of the company’s stock valued at $438,000 after buying an additional 7,972 shares during the last quarter. Metropolitan Life Insurance Co NY raised its position in shares of Vertiv by 13.4% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 21,377 shares of the company’s stock valued at $534,000 after buying an additional 2,523 shares during the last quarter. Finally, Horizon Investments LLC raised its position in shares of Vertiv by 6.5% in the fourth quarter. Horizon Investments LLC now owns 30,861 shares of the company’s stock valued at $771,000 after buying an additional 1,876 shares during the last quarter. 81.95% of the stock is currently owned by institutional investors.

About Vertiv (Get Rating)

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. It offers AC and DC power management products, thermal management products, integrated rack systems, modular solutions, and management systems for monitoring and controlling digital infrastructure that are integral to the technologies used for various services, including e-commerce, online banking, file sharing, video on-demand, energy storage, wireless communications, Internet of Things, and online gaming.

Further Reading

Receive News & Ratings for Vertiv Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vertiv and related companies with MarketBeat.com's FREE daily email newsletter.