Valmont Industries Inc. (VMI) Releases Q2 Earnings Guidance
Valmont Industries Inc. (NYSE:VMI) issued an update on its second quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.35-2.40 for the period, compared to the Thomson Reuters consensus estimate of $2.80, Analyst Ratings Network reports. Valmont Industries also updated its FY14 guidance to $9.35-9.65 EPS.
Valmont Industries Inc. (NYSE:VMI) traded down 0.27% during mid-day trading on Tuesday, hitting $160.67. The stock had a trading volume of 228,962 shares. Valmont Industries Inc. has a 52 week low of $129.00 and a 52 week high of $162.21. The stock’s 50-day moving average is $156.8 and its 200-day moving average is $150.0. The company has a market cap of $4.319 billion and a P/E ratio of 16.89.
Valmont Industries (NYSE:VMI) last released its earnings data on Tuesday, April 22nd. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.15 by $0.05. The company had revenue of $751.74 million for the quarter, compared to the consensus estimate of $793.75 million. During the same quarter in the previous year, the company posted $2.89 earnings per share. The company’s revenue for the quarter was down 8.3% on a year-over-year basis. Analysts expect that Valmont Industries Inc. will post $10.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, July 15th. Investors of record on Friday, June 27th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, June 25th. This is an increase from Valmont Industries’s previous quarterly dividend of $0.25.
On a related note, analysts at DA Davidson reiterated a buy rating on shares of Valmont Industries in a research note on Wednesday, April 23rd. They now have a $190.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Valmont Industries has a consensus rating of Hold and a consensus price target of $173.00.
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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