$1.13 Billion in Sales Expected for Vulcan Materials Company (NYSE:VMC) This Quarter
Brokerages forecast that Vulcan Materials Company (NYSE:VMC) will announce sales of $1.13 billion for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Vulcan Materials’ earnings, with estimates ranging from $1.12 billion to $1.14 billion. Vulcan Materials reported sales of $1.01 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 11.9%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Vulcan Materials will report full year sales of $1.13 billion for the current financial year. For the next fiscal year, analysts forecast that the company will post sales of $4.39 billion per share, with estimates ranging from $4.37 billion to $4.41 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Vulcan Materials.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.22 by $0.32. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.90 earnings per share.
Several analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Stephens upgraded shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $140.00 to $145.00 in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Vulcan Materials from a “sell” rating to a “strong sell” rating in a research report on Monday, July 31st. Royal Bank Of Canada restated a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a research report on Monday, June 19th. Finally, Argus boosted their price target on shares of Vulcan Materials from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Vulcan Materials has an average rating of “Hold” and an average price target of $139.67.
In other Vulcan Materials news, insider Stanley G. Bass sold 4,413 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $132.00, for a total transaction of $582,516.00. Following the sale, the insider now directly owns 21,939 shares in the company, valued at approximately $2,895,948. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Jerry F. Perkins, Jr. sold 306 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $40,392.00. Following the sale, the general counsel now owns 5,292 shares in the company, valued at $698,544. The disclosure for this sale can be found here. Insiders have sold a total of 6,743 shares of company stock worth $876,515 over the last 90 days. 0.89% of the stock is owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Vulcan Materials by 3.2% in the first quarter. Vanguard Group Inc. now owns 13,039,804 shares of the construction company’s stock worth $1,571,036,000 after buying an additional 409,777 shares during the last quarter. BlackRock Inc. increased its stake in Vulcan Materials by 2,909.7% in the first quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock worth $971,936,000 after buying an additional 7,799,158 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Vulcan Materials by 2.7% in the second quarter. JPMorgan Chase & Co. now owns 4,774,421 shares of the construction company’s stock worth $604,822,000 after buying an additional 127,405 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Vulcan Materials by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 2,617,707 shares of the construction company’s stock worth $331,609,000 after buying an additional 58,520 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Vulcan Materials by 9.4% in the first quarter. Geode Capital Management LLC now owns 1,249,739 shares of the construction company’s stock worth $150,345,000 after buying an additional 107,089 shares during the last quarter. Institutional investors and hedge funds own 85.60% of the company’s stock.
Shares of Vulcan Materials (VMC) traded down 2.02% on Thursday, reaching $115.50. 776,877 shares of the company’s stock traded hands. The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 37.19 and a beta of 0.93. The company has a 50 day moving average price of $125.63 and a 200 day moving average price of $123.92. Vulcan Materials has a 52 week low of $105.71 and a 52 week high of $138.18.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Wednesday, August 23rd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. Vulcan Materials’s dividend payout ratio (DPR) is 32.36%.
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About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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