Valmont Industries (NYSE:VMI) Releases Earnings Results, Beats Expectations By $1.08 EPS

Valmont Industries (NYSE:VMI) announced its quarterly earnings data 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 net margin of 3.44% and a return on equity of 20.69%. The firm had revenue of $977.83 million during the quarter, compared to analyst estimates of $986.98 million. During the same quarter in the prior year, the firm posted $3.54 earnings per share. Valmont Industries’s quarterly 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

Shares of VMI traded up $33.63 during mid-day trading on Thursday, reaching $241.33. 361,517 shares of the company’s stock were exchanged, compared to its average volume of 170,486. Valmont Industries has a 52-week low of $188.63 and a 52-week high of $303.57. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.47 and a quick ratio of 1.56. The business’s fifty day simple moving average is $215.91 and its 200-day simple moving average is $220.13. The stock has a market capitalization of $4.88 billion, a PE ratio of 34.42 and a beta of 1.05.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.99%. Valmont Industries’s dividend payout ratio (DPR) is presently 35.61%.

Analysts Set New Price Targets

A number of research firms have commented on VMI. Stifel Nicolaus reaffirmed a “buy” rating and issued a $249.00 target price on shares of Valmont Industries in a research report on Monday, March 25th. StockNews.com raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a research report on Saturday, March 23rd. Finally, DA Davidson reduced their price target on shares of Valmont Industries from $290.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $262.00.

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.