$665.24 Million in Sales Expected for Valmont Industries, Inc. (VMI) This Quarter
Equities research analysts predict that Valmont Industries, Inc. (NYSE:VMI) will announce sales of $665.24 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Valmont Industries’ earnings. The lowest sales estimate is $656.6 million and the highest is $670.12 million. Valmont Industries reported sales of $640.25 million during the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The business is scheduled to issue its next earnings report on Wednesday, July 19th.
According to Zacks, analysts expect that Valmont Industries will report full year sales of $665.24 million for the current financial year, with estimates ranging from $2.61 billion to $2.66 billion. For the next fiscal year, analysts anticipate that the business will report sales of $2.77 billion per share, with estimates ranging from $2.74 billion to $2.82 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Valmont Industries.
Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, April 19th. The industrial products company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.08. Valmont Industries had a return on equity of 14.27% and a net margin of 2.93%. The company had revenue of $637.47 million during the quarter, compared to analyst estimates of $626.02 million. During the same quarter last year, the company earned $1.45 EPS. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis.
A number of analysts have weighed in on VMI shares. William Blair restated a “market perform” rating on shares of Valmont Industries in a report on Sunday, April 23rd. Stifel Nicolaus upped their target price on Valmont Industries from $167.00 to $170.00 and gave the stock a “buy” rating in a report on Sunday, April 23rd. Zacks Investment Research upgraded Valmont Industries from a “hold” rating to a “buy” rating and set a $171.00 target price for the company in a report on Friday, May 12th. Finally, TheStreet upgraded Valmont Industries from a “c” rating to a “b-” rating in a report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Valmont Industries currently has a consensus rating of “Hold” and an average target price of $170.50.
In other news, Director Clark T. Jr. Randt sold 1,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $155.30, for a total transaction of $155,300.00. Following the transaction, the director now directly owns 5,979 shares of the company’s stock, valued at $928,538.70. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Mogens C. Bay sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $159.49, for a total value of $7,974,500.00. Following the transaction, the chairman now directly owns 285,789 shares in the company, valued at $45,580,487.61. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Valmont Industries by 13,061.6% in the first quarter. BlackRock Inc. now owns 1,764,835 shares of the industrial products company’s stock worth $274,432,000 after buying an additional 1,751,426 shares during the last quarter. Neuberger Berman Group LLC increased its position in shares of Valmont Industries by 1.7% in the first quarter. Neuberger Berman Group LLC now owns 1,377,502 shares of the industrial products company’s stock worth $214,201,000 after buying an additional 23,156 shares during the last quarter. State Street Corp increased its position in shares of Valmont Industries by 1.6% in the first quarter. State Street Corp now owns 592,014 shares of the industrial products company’s stock worth $92,059,000 after buying an additional 9,182 shares during the last quarter. FMR LLC increased its position in shares of Valmont Industries by 0.4% in the first quarter. FMR LLC now owns 503,021 shares of the industrial products company’s stock worth $78,220,000 after buying an additional 2,221 shares during the last quarter. Finally, Fiduciary Management Inc. WI increased its position in shares of Valmont Industries by 2.4% in the fourth quarter. Fiduciary Management Inc. WI now owns 433,592 shares of the industrial products company’s stock worth $61,093,000 after buying an additional 10,261 shares during the last quarter. 83.78% of the stock is currently owned by institutional investors and hedge funds.
Valmont Industries (NYSE:VMI) traded up 0.27% on Friday, reaching $146.60. The company had a trading volume of 56,236 shares. The stock’s 50-day moving average is $151.10 and its 200-day moving average is $148.18. Valmont Industries has a 52 week low of $120.65 and a 52 week high of $165.20. The company has a market capitalization of $3.31 billion, a P/E ratio of 18.55 and a beta of 0.98.
About Valmont Industries
Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.
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