Vulcan Materials (NYSE:VMC) Issues Quarterly Earnings Results, Misses Expectations By $0.12 EPS

by · The Cerbat Gem

Vulcan Materials (NYSE:VMC – Get Free Report) announced its quarterly earnings results on Wednesday. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.34 by ($0.12), Briefing.com reports. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business had revenue of $2 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the company posted $2.29 earnings per share. The company’s revenue was down 8.3% compared to the same quarter last year.

Vulcan Materials Stock Performance

Shares of NYSE VMC traded down $0.90 during midday trading on Thursday, reaching $275.33. The company’s stock had a trading volume of 997,060 shares, compared to its average volume of 834,403. The stock has a market capitalization of $36.36 billion, a P/E ratio of 40.32, a PEG ratio of 2.35 and a beta of 0.82. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. The firm has a 50 day moving average price of $246.87 and a 200-day moving average price of $252.02. Vulcan Materials has a 12-month low of $195.70 and a 12-month high of $279.47.

Vulcan Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 annualized dividend and a dividend yield of 0.67%. Vulcan Materials’s dividend payout ratio is currently 26.86%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup reduced their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Stephens decreased their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Truist Financial cut their price target on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, August 7th. StockNews.com downgraded Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. Finally, Royal Bank of Canada dropped their price target on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Vulcan Materials currently has an average rating of “Moderate Buy” and a consensus price target of $273.50.

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About Vulcan Materials

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Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.

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