Valmont Industries Inc. (VMI) Updates FY14 Earnings Guidance
Valmont Industries Inc. (NYSE:VMI) issued an update on its FY14 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $9.35-9.65 for the period, compared to the Thomson Reuters consensus estimate of $10.36, American Banking News reports. Valmont Industries also updated its Q2 guidance to $2.35-2.40 EPS.
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 given a buy rating to the company. Valmont Industries currently has an average rating of Hold and an average target price of $173.00.
Valmont Industries Inc. (NYSE:VMI) traded down 0.27% on Tuesday, hitting $160.67. The stock had a trading volume of 228,962 shares. Valmont Industries Inc. has a one year low of $129.00 and a one year high of $162.21. The stock has a 50-day moving average of $156.8 and a 200-day moving average of $150.0. The company has a market cap of $4.319 billion and a price-to-earnings ratio of 16.89.
Valmont Industries (NYSE:VMI) last announced its earnings results on Tuesday, April 22nd. The company reported $2.20 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $2.89 earnings per share. Valmont Industries’s revenue was down 8.3% compared to the same quarter last year. 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. Shareholders 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 a positive change from Valmont Industries’s previous quarterly dividend of $0.25.
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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