Valmont Industries (NYSE:VMI) Issues FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $16.50-$17.30 for the period, compared to the consensus EPS 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 also updated its FY 2024 guidance to 16.500-17.300 EPS.

Wall Street Analysts Forecast Growth

VMI has been the topic of several recent research reports. DA Davidson raised their price objective on Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, July 26th. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, Stifel Nicolaus lifted 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $332.50.

Valmont Industries Trading Down 2.6 %

Shares of NYSE VMI traded down $8.47 during trading on Thursday, reaching $317.13. The company had a trading volume of 19,183 shares, compared to its average volume of 156,552. The company’s fifty day moving average price is $286.70 and its 200-day moving average price is $268.11. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69. The stock has a market cap of $6.40 billion, a P/E ratio of 22.11 and a beta of 1.02. Valmont Industries has a 12 month low of $188.63 and a 12 month high of $330.97.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business earned $4.12 EPS. The firm’s revenue was down 2.9% compared to the same quarter last year. As a group, research analysts expect that Valmont Industries will post 16.78 earnings per share for the current year.

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Friday, September 27th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is 16.30%.

Insider Activity at Valmont Industries

In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 completion of the sale, the director now owns 3,685 shares in the company, valued at $1,105,942.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer now owns 9,471 shares in the company, valued at approximately $2,826,998.79. 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.

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.