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

Valmont Industries (NYSE:VMI) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 16.500-17.300 for the period, compared to the consensus EPS estimate of 15.850. 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.

Valmont Industries Stock Performance

NYSE:VMI traded up $28.75 during trading hours on Thursday, hitting $299.65. 281,847 shares of the company traded hands, compared to its average volume of 178,974. The stock has a market capitalization of $6.05 billion, a price-to-earnings ratio of 39.48 and a beta of 1.03. Valmont Industries has a twelve month low of $188.63 and a twelve month high of $304.21. The firm has a 50-day moving average of $266.76 and a 200 day moving average of $239.73. The company has a current ratio of 2.64, a quick ratio of 1.65 and a debt-to-equity ratio of 0.79.

Valmont Industries (NYSE:VMI) last posted its earnings results on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $986.98 million. During the same quarter in the prior year, the firm earned $3.54 EPS. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. On average, analysts forecast that Valmont Industries will post 15.96 EPS for the current year.

Valmont Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.60 per share. The ex-dividend date was Friday, June 28th. This represents a $2.40 annualized dividend and a yield of 0.80%. Valmont Industries’s dividend payout ratio (DPR) is currently 31.62%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on VMI shares. Stifel Nicolaus raised their target price 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. StockNews.com raised Valmont Industries from a hold rating to a buy rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Valmont Industries 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.