Valmont Industries (NYSE:VMI) Posts Earnings Results

Valmont Industries (NYSE:VMI) announced its earnings results on Wednesday. The industrial products company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $1.08, Briefing.com reports. Valmont Industries had a return on equity of 20.69% and a net margin of 3.44%. The business had revenue of $977.83 million during the quarter, compared to analysts’ expectations of $986.98 million. During the same quarter in the prior year, the firm earned $3.54 earnings per share. The business’s revenue was down 8.0% compared to the same quarter last year. Valmont Industries updated its FY 2024 guidance to 15.400-16.400 EPS.

Valmont Industries Price Performance

Shares of Valmont Industries stock traded up $34.29 during trading on Thursday, hitting $241.99. 380,973 shares of the company were exchanged, compared to its average volume of 170,591. The company has a quick ratio of 1.56, a current ratio of 2.47 and a debt-to-equity ratio of 0.82. Valmont Industries has a fifty-two week low of $188.63 and a fifty-two week high of $303.57. The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 34.42 and a beta of 1.05. The firm has a 50 day moving average price of $215.91 and a 200 day moving average price of $220.13.

Valmont Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Wednesday, March 27th. Valmont Industries’s dividend payout ratio (DPR) is 35.61%.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com raised Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 23rd. Stifel Nicolaus restated a “buy” rating and set a $249.00 price target on shares of Valmont Industries in a research report on Monday, March 25th. Finally, DA Davidson cut their price target on Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.00.

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.