Valmont Industries (NYSE:VMI) Updates FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $16.50-17.30 for the period, compared to the consensus estimate of $15.85. The company issued revenue guidance of $4.03-4.11 billion, compared to the consensus revenue estimate of $4.14 billion. Valmont Industries also updated its FY 2024 guidance to 16.500-17.300 EPS.

Valmont Industries Stock Up 10.6 %

VMI stock traded up $28.75 during trading on Thursday, hitting $299.65. 281,848 shares of the company’s stock traded hands, compared to its average volume of 178,974. The firm has a market capitalization of $6.05 billion, a P/E ratio of 38.42 and a beta of 1.03. Valmont Industries has a 1 year low of $188.63 and a 1 year high of $304.21. The company has a quick ratio of 1.65, a current ratio of 2.64 and a debt-to-equity ratio of 0.79. The business has a fifty day simple moving average of $265.97 and a two-hundred day simple moving average of $239.31.

Valmont Industries (NYSE:VMI) last released its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, beating the consensus estimate of $3.24 by $1.08. Valmont Industries had a net margin of 3.83% and a return on equity of 22.14%. The business had revenue of $977.83 million during the quarter, compared to analyst estimates of $986.98 million. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm posted $3.54 earnings per share. Sell-side analysts anticipate that Valmont Industries will post 15.96 EPS for the current year.

Valmont Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 31.62%.

Analyst Ratings Changes

Several brokerages recently commented on VMI. StockNews.com raised shares of Valmont Industries from a hold rating to a buy rating in a research report on Thursday, July 18th. Stifel Nicolaus upped their price target on shares of Valmont Industries from $285.00 to $325.00 and gave the company a buy rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Valmont Industries presently has a consensus rating of Moderate Buy and a consensus target price of $300.00.

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.