Valmont Industries (NYSE:VMI) Releases FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $16.50-$17.30 for the period, compared to the consensus EPS estimate of $16.94. The company issued revenue guidance of $4.03-$4.11 billion, compared to the consensus revenue estimate of $4.06 billion.

Analysts Set New Price Targets

Several brokerages have recently weighed in on VMI. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. DA Davidson lifted their target price on Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus lifted their target price on Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $332.50.

Valmont Industries Stock Performance

Shares of VMI traded down $6.72 during mid-day trading on Tuesday, reaching $295.19. 100,479 shares of the company’s stock traded hands, compared to its average volume of 155,940. Valmont Industries has a 12 month low of $188.63 and a 12 month high of $312.61. The stock has a market capitalization of $5.96 billion, a P/E ratio of 39.20 and a beta of 1.02. The business’s 50-day moving average price is $285.56 and its 200-day moving average price is $267.21. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.72. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.06 billion. Equities analysts predict that Valmont Industries will post 16.78 earnings per share for the current year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, September 27th. Valmont Industries’s dividend payout ratio is currently 31.62%.

Insider Activity

In other news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the transaction, the director now directly owns 3,685 shares in the company, valued at $1,105,942.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

About Valmont Industries

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.