Vulcan Materials Company (VMC) Announces Quarterly Earnings, Misses Estimates By $0.01 EPS
Vulcan Materials Company (NYSE:VMC) released its earnings data on Tuesday. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.01, American Banking and Market News reports. The company had revenue of $791.10 million for the quarter, compared to the consensus estimate of $770.72 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis.
Shares of Vulcan Materials Company (NYSE:VMC) traded down 2.13% during mid-day trading on Tuesday, hitting $61.92. 198,726 shares of the company’s stock traded hands. Vulcan Materials Company has a one year low of $46.78 and a one year high of $69.50. The stock has a 50-day moving average of $64.33 and a 200-day moving average of $64.05. The company has a market cap of $8.099 billion and a price-to-earnings ratio of 62.89.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, September 10th. Investors of record on Wednesday, August 27th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.38%. The ex-dividend date is Monday, August 25th. This is an increase from Vulcan Materials Company’s previous quarterly dividend of $0.05.
VMC has been the subject of a number of recent research reports. Analysts at RBC Capital downgraded shares of Vulcan Materials Company from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 14th. They now have a $70.00 price target on the stock, down previously from $74.00. They noted that the move was a valuation call. On a related note, analysts at Zacks downgraded shares of Vulcan Materials Company from an “outperform” rating to a “neutral” rating in a research note on Monday, July 7th. They now have a $68.00 price target on the stock. Finally, analysts at Zacks reiterated an “outperform” rating on shares of Vulcan Materials Company in a research note on Wednesday, May 7th. They now have a $76.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. Vulcan Materials Company has an average rating of “Hold” and a consensus price target of $60.71.
Vulcan Materials Company, is a producer of construction aggregates primarily crushed stone, sand, and gravel.
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