Brokerages Anticipate Valmont Industries, Inc. (VMI) Will Announce Quarterly Sales of $716.80 Million
Analysts forecast that Valmont Industries, Inc. (NYSE:VMI) will post sales of $716.80 million for the current quarter, Zacks reports. Five analysts have issued estimates for Valmont Industries’ earnings. The highest sales estimate is $747.80 million and the lowest is $695.88 million. Valmont Industries posted sales of $674.58 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.3%. The business is expected to report its next quarterly earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that Valmont Industries will report full-year sales of $716.80 million for the current financial year, with estimates ranging from $2.73 billion to $2.78 billion. For the next financial year, analysts anticipate that the business will post sales of $2.85 billion per share, with estimates ranging from $2.77 billion to $2.93 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Valmont Industries.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.04). The firm had revenue of $680.78 million during the quarter, compared to analysts’ expectations of $652.65 million. Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The firm’s revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 EPS.
Several brokerages recently commented on VMI. Zacks Investment Research downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Boenning Scattergood upgraded shares of Valmont Industries from a “neutral” rating to an “outperform” rating in a research report on Friday, August 11th. Stifel Nicolaus restated a “buy” rating and issued a $183.00 price target on shares of Valmont Industries in a research report on Tuesday, October 17th. Seaport Global Securities began coverage on shares of Valmont Industries in a research report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price target for the company. Finally, BidaskClub downgraded shares of Valmont Industries from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $176.50.
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A number of hedge funds have recently added to or reduced their stakes in VMI. Global X Management Co. LLC lifted its position in Valmont Industries by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock worth $108,000 after buying an additional 495 shares in the last quarter. Riverhead Capital Management LLC lifted its position in Valmont Industries by 85.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock worth $194,000 after buying an additional 599 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in Valmont Industries by 0.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock worth $200,000 after buying an additional 8 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Valmont Industries during the 2nd quarter valued at $212,000. Finally, Verity Asset Management Inc. raised its holdings in shares of Valmont Industries by 8.1% during the 2nd quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock valued at $238,000 after purchasing an additional 119 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.
Shares of Valmont Industries (NYSE:VMI) traded up $3.70 during trading hours on Wednesday, hitting $158.45. 205,100 shares of the company traded hands, compared to its average volume of 130,114. The company has a current ratio of 3.50, a quick ratio of 2.53 and a debt-to-equity ratio of 0.65. The stock has a market cap of $3,498.54, a P/E ratio of 22.56, a PEG ratio of 2.22 and a beta of 1.03. Valmont Industries has a fifty-two week low of $135.75 and a fifty-two week high of $165.20.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $0.375 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 0.95%. Valmont Industries’s payout ratio is 17.90%.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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