Valmont Industries (NYSE:VMI) Announces Quarterly Earnings Results, Beats Estimates By $0.11 EPS

by · The Cerbat Gem

Valmont Industries (NYSE:VMI – Get Free Report) announced its quarterly earnings data on Tuesday. The industrial products company reported $4.11 earnings per share for the quarter, beating the consensus estimate of $4.00 by $0.11, Briefing.com reports. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.02 billion. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. Valmont Industries’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $4.12 earnings per share. 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 Price Performance

Shares of NYSE VMI opened at $325.43 on Thursday. The stock has a market cap of $6.56 billion, a PE ratio of 22.11 and a beta of 1.02. Valmont Industries has a fifty-two week low of $188.63 and a fifty-two week high of $330.97. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53. The stock has a fifty day moving average of $286.70 and a 200-day moving average of $268.11.

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 given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.74%. The ex-dividend date was Friday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. DA Davidson boosted 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. Stifel Nicolaus boosted 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. Finally, StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Valmont Industries currently has an average rating of “Buy” and an average price target of $332.50.

Check Out Our Latest Stock Analysis on VMI

Insider Activity

In other news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 9,471 shares in the company, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction dated 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 $1,105,942.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy P. Francis sold 2,300 shares of the business’s 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 transaction, the chief financial officer now 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 ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Valmont Industries Company Profile

(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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