Brokerages Anticipate Valmont Industries, Inc. (VMI) Will Post Earnings of $1.93 Per Share
Equities research analysts expect that Valmont Industries, Inc. (NYSE:VMI) will report earnings of $1.93 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Valmont Industries’ earnings, with the lowest EPS estimate coming in at $1.84 and the highest estimate coming in at $1.98. Valmont Industries reported earnings of $1.85 per share during the same quarter last year, which would indicate a positive year over year growth rate of 4.3%. The business is expected to report its next quarterly earnings results after the market closes on Wednesday, July 19th.
On average, analysts expect that Valmont Industries will report full year earnings of $7.08 per share for the current fiscal year, with EPS estimates ranging from $7.05 to $7.15. For the next year, analysts anticipate that the business will report earnings of $7.96 per share, with EPS estimates ranging from $7.50 to $8.30. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.08. The business had revenue of $637.47 million during the quarter, compared to the consensus estimate of $626.02 million. Valmont Industries had a return on equity of 14.93% and a net margin of 6.99%. Valmont Industries’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned $1.45 earnings per share.
A number of analysts have commented on VMI shares. TheStreet raised Valmont Industries from a “c” rating to a “b-” rating in a report on Tuesday, February 21st. William Blair reissued a “market perform” rating on shares of Valmont Industries in a report on Sunday, April 23rd. Stifel Nicolaus raised Valmont Industries from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $160.00 to $167.00 in a report on Monday, April 17th. Zacks Investment Research raised Valmont Industries from a “hold” rating to a “buy” rating and set a $171.00 price objective for the company in a report on Friday, May 12th. Finally, BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Valmont Industries presently has a consensus rating of “Hold” and an average target price of $167.00.
A number of hedge funds have recently modified their holdings of VMI. BlackRock Inc. raised its stake 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 in the last quarter. Pictet Asset Management Ltd. bought a new stake in shares of Valmont Industries during the first quarter worth approximately $33,365,000. Norges Bank bought a new stake in shares of Valmont Industries during the fourth quarter worth approximately $28,154,000. Bank of New York Mellon Corp raised its stake in shares of Valmont Industries by 55.3% in the first quarter. Bank of New York Mellon Corp now owns 413,659 shares of the industrial products company’s stock worth $64,324,000 after buying an additional 147,339 shares in the last quarter. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Valmont Industries during the first quarter worth approximately $14,376,000. 85.05% of the stock is owned by hedge funds and other institutional investors.
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Valmont Industries (VMI) traded up 0.23% on Monday, hitting $151.05. The company had a trading volume of 31,344 shares. The company has a market capitalization of $3.41 billion, a P/E ratio of 19.11 and a beta of 0.99. Valmont Industries has a one year low of $120.65 and a one year high of $165.20. The stock’s 50-day moving average price is $149.65 and its 200 day moving average price is $149.09.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date is Wednesday, June 28th. Valmont Industries’s dividend payout ratio is currently 18.96%.
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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