Valmont Industries (NYSE:VMI) Issues FY24 Earnings Guidance

by · The Markets Daily

Valmont Industries (NYSE:VMI – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Valmont Industries Stock Performance

Shares of NYSE VMI traded down $6.97 during trading hours on Tuesday, reaching $294.94. The stock had a trading volume of 137,791 shares, compared to its average volume of 156,123. The business’s fifty day moving average is $285.56 and its two-hundred day moving average is $267.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 39.20 and a beta of 1.02. Valmont Industries has a twelve month low of $188.63 and a twelve month high of $312.61.

Valmont Industries (NYSE:VMI – Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share for the quarter, beating analysts’ consensus estimates of $4.04 by $0.72. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The firm had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.06 billion. As a group, research analysts expect that Valmont Industries will post 16.78 EPS for the current year.

Valmont Industries Dividend Announcement

The firm also recently announced 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 payout ratio is presently 31.62%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on VMI. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. DA Davidson increased 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 increased 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 analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $332.50.

Get Our Latest Stock Analysis on Valmont Industries

Insider Buying and Selling at Valmont Industries

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

About Valmont Industries

(Get Free Report)

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.

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