Valmont Industries (NYSE:VMI) Updates FY 2024 Earnings Guidance

Valmont Industries (NYSE:VMI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 16.500-17.300 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on VMI. StockNews.com upgraded shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Stifel Nicolaus boosted their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, DA Davidson boosted their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a report on Thursday. One investment analyst has rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $352.50.

Valmont Industries Trading Down 3.4 %

Shares of VMI stock traded down $11.01 during trading hours on Thursday, reaching $314.59. 41,597 shares of the stock were exchanged, compared to its average volume of 156,661. Valmont Industries has a 12-month low of $188.63 and a 12-month high of $330.97. The company has a current ratio of 2.53, a quick ratio of 1.63 and a debt-to-equity ratio of 0.69. The company’s 50-day moving average price is $286.70 and its 200-day moving average price is $268.11. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 21.42 and a beta of 1.02.

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

Valmont Industries Dividend Announcement

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

Insider Buying and Selling at Valmont Industries

In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Theodor Werner Freye sold 1,600 shares of the company’s stock in a transaction that occurred 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 owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at $2,826,998.79. The trade was a 0.00 % decrease in their position. 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.