Vale (NYSE:VALE) Posts Earnings Results, Misses Expectations By $0.10 EPS

Key Points

• Vale reported quarterly EPS of $0.31, missing the $0.41 analyst consensus by $0.10. Revenue also fell short of expectations at $10.24 billion versus $10.47 billion.
• Vale shares traded near $14.97, with a market capitalization of approximately $68 billion and a 52-week range of $9.36 to $17.94.
• Analysts maintain a consensus “Hold” rating with a $16.15 target price, while recent revisions included Bank of America upgrading the stock to “Buy” and Goldman Sachs downgrading it to “Neutral.”

Vale (NYSE:VALE - Get Free Report) issued its quarterly earnings results on Thursday. The basic materials company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.10), FiscalAI reports. The firm had revenue of $10.24 billion for the quarter, compared to analyst estimates of $10.47 billion. Vale had a return on equity of 21.10% and a net margin of 7.21%.

Vale Price Performance

Shares of NYSE:VALE traded down $0.01 during trading on Friday, reaching $14.97. 23,026,910 shares of the company's stock traded hands, compared to its average volume of 29,757,270. The company has a quick ratio of 0.79, a current ratio of 1.24 and a debt-to-equity ratio of 0.48. Vale has a fifty-two week low of $9.36 and a fifty-two week high of $17.94. The company has a 50-day simple moving average of $15.21 and a 200-day simple moving average of $15.83. The firm has a market cap of $67.97 billion, a PE ratio of 22.43 and a beta of 0.46.

Analysts Set New Price Targets

A number of brokerages recently commented on VALE. Royal Bank Of Canada reiterated a "sector perform" rating on shares of Vale in a research report on Monday, June 15th. Bank of America upgraded shares of Vale from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $18.00 to $19.00 in a research note on Thursday, April 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $18.00 price target on shares of Vale in a report on Friday, May 15th. Morgan Stanley restated an "equal weight" rating and issued a $16.50 target price (down from $19.50) on shares of Vale in a research note on Wednesday, July 8th. Finally, The Goldman Sachs Group cut Vale from a "buy" rating to a "neutral" rating and reduced their price target for the company from $18.00 to $16.00 in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $16.15.

Hedge Funds Weigh In On Vale

A number of hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC increased its position in shares of Vale by 4.9% in the first quarter. NewEdge Advisors LLC now owns 79,400 shares of the basic materials company's stock valued at $792,000 after buying an additional 3,704 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of Vale by 46.6% during the 1st quarter. Jones Financial Companies Lllp now owns 37,613 shares of the basic materials company's stock worth $375,000 after purchasing an additional 11,964 shares during the last quarter. Empowered Funds LLC acquired a new position in shares of Vale during the 1st quarter worth about $171,000. Strs Ohio purchased a new position in Vale in the 1st quarter valued at about $117,000. Finally, Sivia Capital Partners LLC acquired a new stake in Vale in the 2nd quarter worth about $123,000. Hedge funds and other institutional investors own 21.85% of the company's stock.

About Vale

Vale SA is a Brazilian multinational mining company and one of the world's largest producers of iron ore and iron ore pellets. In addition to iron ore, the company produces and sells a range of bulk commodities and metals, including nickel, copper, coal, manganese, ferroalloys and cobalt, and it participates in the fertilizer inputs market. Vale also operates extensive logistics assets — including rail, port and maritime logistics — that support its mining and export activities and provide services to third parties in some regions.

Headquartered in Brazil, Vale maintains a global operational footprint with mining, processing and shipping activities across the Americas, Africa, Asia and Oceania.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.