Valmont Industries (NYSE:VMI - Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 16.500-17.300 for the period, compared to the consensus EPS estimate of 16.920. The company issued revenue guidance of $4.0 billion-$4.1 billion, compared to the consensus revenue estimate of $4.1 billion. Valmont Industries also updated its FY24 guidance to $16.50-$17.30 EPS.
Valmont Industries Trading Down 2.5 %
Shares of NYSE:VMI traded down $7.42 during trading on Tuesday, reaching $294.49. 137,958 shares of the company traded hands, compared to its average volume of 156,124. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. Valmont Industries has a 52-week low of $188.63 and a 52-week high of $312.61. The business's fifty day moving average is $285.56 and its 200-day moving average is $267.21. The firm has a market capitalization of $5.95 billion, a price-to-earnings ratio of 38.80 and a beta of 1.02.
Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.76 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.04 by $0.72. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.06 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. As a group, analysts forecast that Valmont Industries will post 16.78 EPS for the current year.
Valmont Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Friday, September 27th. Valmont Industries's payout ratio is 31.62%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on VMI shares. 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. StockNews.com raised shares of Valmont Industries from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 12th. Finally, DA Davidson boosted their price target 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. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $332.50.
Check Out Our Latest Stock Report on Valmont Industries
Insiders Place Their Bets
In other news, Director Theodor Werner Freye sold 1,600 shares of the business's stock in a transaction on Wednesday, July 31st. The shares were 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 in the company, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Valmont Industries 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 transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the sale, the director now directly owns 3,685 shares in the company, valued at approximately $1,105,942.20. This represents 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 corporate insiders.
About Valmont Industries
(
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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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