Valmont Industries (NYSE:VMI) Updates FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $16.50-$17.30 for the period, compared to the consensus earnings per share 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 Price Performance

Shares of NYSE:VMI traded down $6.72 during midday trading on Tuesday, hitting $295.19. The company had a trading volume of 100,479 shares, compared to its average volume of 155,940. Valmont Industries has a twelve month low of $188.63 and a twelve month high of $312.61. 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 stock has a market cap of $5.96 billion, a price-to-earnings ratio of 39.20 and a beta of 1.02. The business’s 50-day simple moving average is $285.56 and its 200-day simple moving average is $267.21.

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

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.81%. Valmont Industries’s dividend payout ratio (DPR) is 31.62%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. DA Davidson raised their price target on Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus lifted their target price on Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research 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. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $332.50.

Insider Buying and Selling at Valmont Industries

In other news, Director Theodor Werner Freye sold 1,600 shares of the business’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 transaction of $480,192.00. Following the sale, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Theodor Werner Freye sold 1,600 shares of the business’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 transaction of $480,192.00. Following the sale, the director now owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal 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 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 sale, the chief financial officer now directly owns 9,471 shares in the company, valued at $2,826,998.79. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.