Research Analysts Set Expectations for Valmont Industries, Inc.’s Q3 2017 Earnings (VMI)
Valmont Industries, Inc. (NYSE:VMI) – Research analysts at Boenning Scattergood increased their Q3 2017 earnings estimates for Valmont Industries in a research report issued to clients and investors on Thursday. Boenning Scattergood analyst R. Connors now anticipates that the industrial products company will post earnings of $1.68 per share for the quarter, up from their prior estimate of $1.65. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Valmont Industries’ Q4 2017 earnings at $1.69 EPS, FY2017 earnings at $7.10 EPS, Q1 2018 earnings at $1.73 EPS, Q3 2018 earnings at $1.99 EPS, Q4 2018 earnings at $2.00 EPS and FY2018 earnings at $8.05 EPS.
Valmont Industries (NYSE:VMI) last posted its earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.05. Valmont Industries had a net margin of 6.94% and a return on equity of 15.23%. The firm had revenue of $712.70 million for the quarter, compared to the consensus estimate of $668.06 million. During the same period in the previous year, the firm posted $1.85 EPS. The business’s quarterly revenue was up 11.3% on a year-over-year basis.
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Several other equities analysts also recently weighed in on VMI. Stifel Nicolaus raised shares of Valmont Industries from a “hold” rating to a “buy” rating and raised their price target for the stock from $160.00 to $167.00 in a research note on Monday, April 17th. William Blair reissued a “market perform” rating on shares of Valmont Industries in a research note on Sunday, April 23rd. Zacks Investment Research raised shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $170.00 price target on the stock in a research note on Tuesday, April 25th. Finally, BidaskClub raised shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $168.00.
Shares of Valmont Industries (NYSE VMI) opened at 157.70 on Friday. The stock has a 50 day moving average of $150.05 and a 200-day moving average of $149.26. Valmont Industries has a 12-month low of $120.65 and a 12-month high of $165.20. The company has a market capitalization of $3.56 billion, a P/E ratio of 19.95 and a beta of 0.97.
The company also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date was Wednesday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 18.59%.
Institutional investors have recently modified their holdings of the company. Pinnacle Bank purchased a new position in shares of Valmont Industries during the first quarter worth approximately $117,000. Gofen & Glossberg LLC IL purchased a new position in shares of Valmont Industries during the first quarter worth approximately $205,000. Janney Montgomery Scott LLC purchased a new position in shares of Valmont Industries during the first quarter worth approximately $207,000. Timber Hill LLC purchased a new position in shares of Valmont Industries during the first quarter worth approximately $209,000. Finally, Verity Asset Management Inc. purchased a new position in shares of Valmont Industries during the first quarter worth approximately $228,000. 84.45% of the stock is currently owned by institutional investors.
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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