Valmont Industries (NYSE:VMI) Issues Earnings Results

Valmont Industries (NYSE:VMI) posted its earnings results on Wednesday. The industrial products company reported $4.32 earnings per share (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 firm had revenue of $977.83 million during the quarter, compared to analysts’ expectations of $986.98 million. During the same period in the previous year, the firm earned $3.54 earnings per share. The company’s 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 Stock Performance

NYSE:VMI traded up $33.63 on Thursday, hitting $241.33. The company’s stock had a trading volume of 361,517 shares, compared to its average volume of 170,486. The company has a current ratio of 2.47, a quick ratio of 1.56 and a debt-to-equity ratio of 0.82. The stock has a fifty day moving average of $215.91 and a two-hundred day moving average of $220.13. The firm has a market capitalization of $4.88 billion, a P/E ratio of 34.42 and a beta of 1.05. Valmont Industries has a one year low of $188.63 and a one year high of $303.57.

Valmont Industries Announces Dividend

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

Analysts Set New Price Targets

VMI has been the subject of a number of research analyst reports. StockNews.com raised Valmont Industries from a “hold” rating to a “buy” rating in a research note on Saturday, March 23rd. DA Davidson reduced their price target on Valmont Industries from $290.00 to $275.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $249.00 price target on shares of Valmont Industries in a research report on Monday, March 25th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.