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

Valmont Industries (NYSE:VMI - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 15.400-16.400 for the period, compared to the consensus estimate of 14.760. The company issued revenue guidance of $4.1 billion-$4.2 billion, compared to the consensus revenue estimate of $4.1 billion.

Valmont Industries Stock Performance

Shares of VMI stock traded up $3.03 during midday trading on Wednesday, hitting $207.83. The company had a trading volume of 253,369 shares, compared to its average volume of 168,334. The company's 50 day simple moving average is $216.30 and its 200 day simple moving average is $220.22. 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 stock has a market cap of $4.20 billion, a price-to-earnings ratio of 30.82 and a beta of 1.03.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The industrial products company reported $3.18 earnings per share for the quarter, beating analysts' consensus estimates of $3.08 by $0.10. Valmont Industries had a return on equity of 20.69% and a net margin of 3.44%. The company had revenue of $1,000.00 million for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company earned $3.46 EPS. The firm's revenue for the quarter was down 11.6% compared to the same quarter last year. Research analysts anticipate that Valmont Industries will post 14.9 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend was Wednesday, March 27th. Valmont Industries's dividend payout ratio (DPR) is presently 35.61%.

Wall Street Analysts Forecast Growth

VMI has been the subject of a number of recent research reports. DA Davidson lowered their price target on shares of Valmont Industries from $290.00 to $275.00 and set a buy rating for the company in a report on Tuesday, February 27th. Stifel Nicolaus reiterated a buy rating and issued a $249.00 price target on shares of Valmont Industries in a report on Monday, March 25th. Finally, StockNews.com upgraded Valmont Industries from a hold rating to a buy rating in a report on Saturday, March 23rd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus 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.

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