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

Valmont Industries (NYSE:VMI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 16.500-17.300 for the period, compared to the consensus estimate of 16.920. 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.

Analysts Set New Price Targets

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

Valmont Industries Trading Down 2.3 %

Shares of Valmont Industries stock traded down $6.97 on Tuesday, hitting $294.94. 137,958 shares of the company’s stock traded hands, compared to its average volume of 156,124. The firm’s 50-day moving average price is $285.56 and its two-hundred day moving average price is $267.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. The stock has a market capitalization of $5.96 billion, a PE ratio of 39.20 and a beta of 1.02. Valmont Industries has a one year low of $188.63 and a one year high of $312.61.

Valmont Industries (NYSE:VMI) last released its quarterly earnings data on Wednesday, July 24th. The industrial products company reported $4.76 EPS for the quarter, beating analysts’ consensus estimates of $4.04 by $0.72. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. On average, research analysts expect that Valmont Industries will post 16.78 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Friday, September 27th were given a $0.60 dividend. The ex-dividend date was Friday, September 27th. This represents a $2.40 annualized dividend and a dividend yield of 0.81%. Valmont Industries’s dividend payout ratio is presently 31.62%.

Insider Buying and Selling at Valmont Industries

In other news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction 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 sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at $2,826,998.79. This represents 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 available at this hyperlink. In other news, Director Theodor Werner Freye sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the completion of the transaction, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries 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 sale, the chief financial officer now owns 9,471 shares in the company, valued at $2,826,998.79. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

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.