Valmont Industries (VMI) Announces Quarterly Earnings, Meets Expectations
Valmont Industries (NYSE:VMI) announced its earnings results on Thursday. The company reported $2.66 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.66, AnalystRatings.Net reports. The company had revenue of $827.90 million for the quarter, compared to the consensus estimate of $842.93 million.
VMI has been the subject of a number of recent research reports. Analysts at Sterne Agee initiated coverage on shares of Valmont Industries in a research note on Thursday, December 19th. They set a “buy” rating on the stock. On a related note, analysts at Gabelli initiated coverage on shares of Valmont Industries in a research note on Monday, December 16th. They set a “hold” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Valmont Industries in a research note on Thursday, December 5th. They now have a $152.00 price target on the stock. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $175.67.
Shares of Valmont Industries (NYSE:VMI) traded up 2.69% during mid-day trading on Thursday, hitting $155.46. The stock had a trading volume of 390,559 shares. Valmont Industries has a 1-year low of $129.00 and a 1-year high of $164.93. The stock has a 50-day moving average of $148.6 and a 200-day moving average of $142.9. The company has a market cap of $4.164 billion and a P/E ratio of 14.10.
Valmont Industries, Inc is a global producer of fabricated metal products. The Company operates in four segments: Engineered Infrastructure Products, which consists of the manufacture of engineered metal structures and components for the global lighting and traffic, wireless communication, roadway safety and access systems applications; Utility Support Structures, which consists of the manufacture of engineered steel and concrete structures for the global utility industry; Coatings, which consists of galvanizing, anodizing and powder coating services on a global basis, and Irrigation, which consists of the manufacture of agricultural irrigation equipment and related parts and services for the global agricultural industry.
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