Valmont Industries (NYSE:VMI – Get Free Report) released its quarterly earnings results 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 firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.12 EPS. 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 Trading Up 11.2 %
NYSE:VMI traded up $33.01 during trading hours on Wednesday, reaching $327.95. The company’s stock had a trading volume of 112,451 shares, compared to its average volume of 155,917. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 43.42 and a beta of 1.02. The firm has a 50-day simple moving average of $285.84 and a 200-day simple moving average of $267.71. Valmont Industries has a 1 year low of $188.63 and a 1 year 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.
Valmont Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.73%. Valmont Industries’s dividend payout ratio (DPR) is 31.62%.
Insider Buying and Selling at Valmont Industries
Analyst Upgrades and Downgrades
VMI has been the subject of several research analyst reports. DA Davidson lifted their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, July 26th. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus upped their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. One investment 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 company’s stock. According to data from MarketBeat.com, Valmont Industries currently has an average rating of “Buy” and a consensus target price of $332.50.
Get Our Latest Report on Valmont Industries
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.
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