Valmont Industries (NYSE:VMI) Issues FY 2024 Earnings Guidance

Valmont Industries (NYSE:VMI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of 16.500-17.300 for the period, compared to the consensus estimate of 16.920. The company issued revenue guidance of $4.0 billion-$4.1 billion, compared to the consensus revenue estimate of $4.1 billion. Valmont Industries also updated its FY24 guidance to $16.50-$17.30 EPS.

Valmont Industries Trading Up 11.8 %

Shares of VMI traded up $34.72 during mid-day trading on Wednesday, hitting $329.66. The company had a trading volume of 81,318 shares, compared to its average volume of 155,765. Valmont Industries has a 1-year low of $188.63 and a 1-year high of $330.97. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. The business’s 50-day simple moving average is $285.84 and its 200-day simple moving average is $267.71. The stock has a market cap of $6.66 billion, a PE ratio of 43.42 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.11. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same period in the previous year, the company earned $4.12 EPS. Sell-side analysts forecast that Valmont Industries will post 16.78 earnings per share for the current year.

Valmont Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a dividend of $0.60 per share. The ex-dividend date was Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.73%. Valmont Industries’s dividend payout ratio (DPR) is 31.62%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on VMI shares. DA Davidson raised their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, July 26th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus raised their target price on Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Valmont Industries currently has a consensus rating of “Buy” and a consensus price target of $332.50.

Insiders Place Their Bets

In related news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Theodor Werner Freye sold 1,600 shares of the company’s 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 sale, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the 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 transaction, the chief financial officer now owns 9,471 shares in the company, valued at $2,826,998.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company 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.