Valmont Industries (NYSE:VMI – Get Free Report) issued its earnings results on Tuesday. The industrial products company reported $4.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.00 by $0.11, Briefing.com reports. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm posted $4.12 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. 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 Stock Down 1.4 %
Valmont Industries stock opened at $320.96 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. The stock has a market capitalization of $6.47 billion, a price-to-earnings ratio of 21.80 and a beta of 1.02. Valmont Industries has a 1-year low of $188.63 and a 1-year high of $330.97. The business has a fifty day moving average price of $287.45 and a 200-day moving average price of $268.48.
Valmont Industries Announces Dividend
The business also recently announced 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. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.75%. Valmont Industries’s dividend payout ratio (DPR) is presently 16.30%.
Insider Transactions at Valmont Industries
Wall Street Analyst Weigh In
VMI has been the topic of a number of recent research reports. Stifel Nicolaus upped their price objective on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, DA Davidson upped their price objective on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a research report on Thursday. One 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. According to MarketBeat, Valmont Industries presently has a consensus rating of “Buy” and an average price target of $370.00.
Get Our Latest Stock Report on Valmont Industries
About Valmont Industries
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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