Zacks Research Cuts Earnings Estimates for Vulcan Materials

Vulcan Materials (NYSE:VMC) – Equities research analysts at Zacks Research decreased their FY2024 earnings per share estimates for Vulcan Materials in a research report issued to clients and investors on Wednesday, November 20th. Zacks Research analyst A. Gupta now expects that the construction company will post earnings of $7.09 per share for the year, down from their prior estimate of $7.45. The consensus estimate for Vulcan Materials’ current full-year earnings is $7.20 per share. Zacks Research also issued estimates for Vulcan Materials’ Q4 2024 earnings at $1.72 EPS, Q2 2025 earnings at $2.91 EPS, Q3 2025 earnings at $2.75 EPS, Q4 2025 earnings at $2.10 EPS and FY2025 earnings at $8.73 EPS.

Several other equities research analysts have also recently weighed in on the stock. UBS Group started coverage on shares of Vulcan Materials in a research report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. Truist Financial upped their target price on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Citigroup cut their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. 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. Finally, Royal Bank of Canada cut their target price 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. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $280.46.

Vulcan Materials Stock Up 1.2 %

Shares of Vulcan Materials stock opened at $281.18 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02. The stock has a market cap of $37.13 billion, a price-to-earnings ratio of 44.35, a PEG ratio of 2.67 and a beta of 0.81. The firm’s 50-day moving average is $260.31 and its two-hundred day moving average is $254.60. Vulcan Materials has a 1 year low of $209.60 and a 1 year high of $298.31.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The firm had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. Vulcan Materials’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.29 EPS.

Hedge Funds Weigh In On Vulcan Materials

Several hedge funds have recently made changes to their positions in the company. SouthState Corp grew its stake in Vulcan Materials by 669.2% during the 2nd quarter. SouthState Corp now owns 100 shares of the construction company’s stock valued at $25,000 after purchasing an additional 87 shares during the last quarter. Kings Path Partners LLC purchased a new stake in Vulcan Materials in the second quarter valued at approximately $27,000. Ashton Thomas Securities LLC purchased a new stake in Vulcan Materials in the third quarter valued at approximately $30,000. UMB Bank n.a. increased its holdings in Vulcan Materials by 61.8% in the 2nd quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock worth $31,000 after buying an additional 47 shares during the period. Finally, Concord Wealth Partners purchased a new position in Vulcan Materials during the 3rd quarter worth approximately $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s dividend payout ratio (DPR) is presently 29.02%.

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.