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

Valmont Industries (NYSE:VMI - Get Free Report) released its quarterly earnings data on Wednesday. The industrial products company reported $4.32 earnings per share 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 business had revenue of $977.83 million during the quarter, compared to analyst estimates of $986.98 million. During the same quarter last year, the business posted $3.54 EPS. 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 Up 17.8 %

Shares of Valmont Industries stock traded up $37.02 during trading hours on Thursday, reaching $244.72. 591,366 shares of the company were exchanged, compared to its average volume of 173,318. The firm has a market cap of $4.95 billion, a PE ratio of 36.31 and a beta of 1.05. The stock's fifty day moving average is $215.91 and its 200 day moving average is $220.13. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.56 and a current ratio of 2.47. Valmont Industries has a 1 year low of $188.63 and a 1 year high of $303.57.

Valmont Industries Dividend Announcement

The business also recently disclosed 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Wednesday, March 27th. Valmont Industries's dividend payout ratio is currently 35.61%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. StockNews.com upgraded Valmont Industries from a "hold" rating to a "buy" rating in a research note on Saturday, March 23rd. Stifel Nicolaus reiterated a "buy" rating and issued a $249.00 price objective on shares of Valmont Industries in a report on Monday, March 25th. Finally, DA Davidson lowered their target price on Valmont Industries from $290.00 to $275.00 and set a "buy" rating on the stock in a 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's stock. According to 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.