Valmont Industries (NYSE:VMI) Updates FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $16.50-$17.30 for the period, compared to the consensus EPS estimate of $16.94. The company issued revenue guidance of $4.03-$4.11 billion, compared to the consensus revenue estimate of $4.06 billion. Valmont Industries also updated its FY 2024 guidance to 16.500-17.300 EPS.

Valmont Industries Stock Performance

Shares of NYSE VMI traded down $8.47 during mid-day trading on Thursday, reaching $317.13. 19,183 shares of the company’s stock were exchanged, compared to its average volume of 156,552. The firm has a market capitalization of $6.40 billion, a price-to-earnings ratio of 22.11 and a beta of 1.02. The firm has a 50-day moving average price of $286.70 and a two-hundred day moving average price of $268.11. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. Valmont Industries has a 52 week low of $188.63 and a 52 week high of $330.97.

Valmont Industries (NYSE:VMI) last released its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company earned $4.12 earnings per share. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts predict that Valmont Industries will post 16.78 EPS for the current year.

Valmont Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on VMI. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus boosted their price objective on Valmont Industries from $285.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, DA Davidson increased their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $332.50.

Insiders Place Their Bets

In other news, CFO Timothy P. Francis sold 2,300 shares of the 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 sale, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Timothy P. Francis sold 2,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the completion of the transaction, the chief financial officer now owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total transaction of $480,192.00. Following the completion of the sale, the director now owns 3,685 shares in the company, valued at $1,105,942.20. This represents a 0.00 % decrease in their ownership of the stock. 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.