Valmont Industries (NYSE:VMI) Posts Earnings Results, Beats Expectations By $1.08 EPS

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

Valmont Industries Trading Up 16.2 %

Valmont Industries stock traded up $33.55 during trading hours on Thursday, hitting $241.25. The company had a trading volume of 335,731 shares, compared to its average volume of 170,180. The firm has a market cap of $4.88 billion, a P/E ratio of 34.42 and a beta of 1.05. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.56 and a current ratio of 2.47. Valmont Industries has a 1 year low of $188.63 and a 1 year high of $303.57. The company has a 50-day moving average price of $215.91 and a two-hundred day moving average price of $220.13.

Valmont Industries Dividend Announcement

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

Analyst Ratings Changes

A number of analysts have recently weighed in on VMI shares. StockNews.com upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 23rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $249.00 price target on shares of Valmont Industries in a research note on Monday, March 25th. Finally, DA Davidson dropped their price target on shares of Valmont Industries from $290.00 to $275.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Valmont Industries has an average rating of “Moderate Buy” and a consensus target price of $262.00.

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.