Valmont Industries (NYSE:VMI – Get Free Report) announced its quarterly earnings results on Tuesday. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.00 by $0.11, Briefing.com reports. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company earned $4.12 earnings per share. Valmont Industries’s quarterly revenue was down 2.9% on a year-over-year basis. Valmont Industries updated its FY24 guidance to $16.50-$17.30 EPS and its FY 2024 guidance to 16.500-17.300 EPS.
Valmont Industries Stock Up 11.2 %
NYSE:VMI traded up $33.01 during trading hours on Wednesday, reaching $327.95. 112,451 shares of the company traded hands, compared to its average volume of 155,917. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $285.84 and its two-hundred day moving average price is $267.71. Valmont Industries has a 1 year low of $188.63 and a 1 year high of $330.97. The stock has a market capitalization of $6.62 billion, a P/E ratio of 43.42 and a beta of 1.02.
Valmont Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were paid a $0.60 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.73%. Valmont Industries’s payout ratio is currently 31.62%.
Insider Transactions at Valmont Industries
Wall Street Analyst Weigh In
VMI has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, DA Davidson increased their price objective on Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Valmont Industries has a consensus rating of “Buy” and an average target price of $332.50.
Check Out Our Latest Analysis on VMI
Valmont Industries Company Profile
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.
Further Reading
- Five stocks we like better than Valmont Industries
- What is the Nikkei 225 index?
- Chinese Stocks Cool Off: Time to Buy the Dip in These 2 Stocks?
- Profitably Trade Stocks at 52-Week Highs
- Goldman Sachs Highlights 3 Top Short Squeeze Stocks to Watch
- Insider Selling Explained: Can it Inform Your Investing Choices?
- Walmart is Up 56% YTD, Is it Still a Top Consumer Staples Stock?
Receive News & Ratings for Valmont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valmont Industries and related companies with MarketBeat.com's FREE daily email newsletter.