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

Vulcan Materials (NYSE:VMC) posted 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. The firm had revenue of $2 billion during the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. Vulcan Materials’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.29 EPS.

Vulcan Materials Stock Down 0.2 %

Shares of VMC traded down $0.57 during mid-day trading on Thursday, hitting $275.66. 1,041,874 shares of the company’s stock were exchanged, compared to its average volume of 834,615. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.48 and a quick ratio of 1.66. Vulcan Materials has a 52 week low of $195.70 and a 52 week high of $279.47. The company has a market cap of $36.40 billion, a PE ratio of 40.32, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a 50-day simple moving average of $246.87 and a 200 day simple moving average of $252.02.

Vulcan Materials Dividend Announcement

The company also recently declared 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. This represents a $1.84 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is currently 26.86%.

Analyst Ratings Changes

VMC has been the subject of several analyst reports. Barclays lifted their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. decreased their price objective on Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Citigroup cut their target price on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Stephens decreased their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Vulcan Materials currently has an average rating of “Moderate Buy” and an average price target of $273.50.

About Vulcan Materials

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.