FY2018 EPS Estimates for Valmont Industries, Inc. (VMI) Raised by Analyst
Valmont Industries, Inc. (NYSE:VMI) – Gabelli lifted their FY2018 earnings per share (EPS) estimates for shares of Valmont Industries in a note issued to investors on Friday. Gabelli analyst J. Garza now anticipates that the industrial products company will post earnings of $7.70 per share for the year, up from their previous forecast of $7.50. Gabelli also issued estimates for Valmont Industries’ FY2019 earnings at $8.60 EPS, FY2020 earnings at $9.30 EPS and FY2021 earnings at $9.95 EPS.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.05. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. The firm had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. During the same period in the previous year, the company posted $1.85 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. TRADEMARK VIOLATION NOTICE: “FY2018 EPS Estimates for Valmont Industries, Inc. (VMI) Raised by Analyst” was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.americanbankingnews.com/2017/07/24/fy2018-eps-estimates-for-valmont-industries-inc-vmi-raised-by-analyst.html.
VMI has been the subject of several other reports. Zacks Investment Research downgraded shares of Valmont Industries from a “buy” rating to a “hold” rating in a research report on Friday, May 26th. Stifel Nicolaus upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating and raised their price objective for the stock from $160.00 to $167.00 in a research report on Monday, April 17th. BidaskClub upgraded shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Finally, Boenning Scattergood restated a “hold” rating on shares of Valmont Industries in a research report on Thursday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $168.00.
Valmont Industries (VMI) opened at 157.95 on Monday. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 19.57 and a beta of 0.97. The company’s 50-day moving average price is $150.05 and its 200 day moving average price is $149.26. Valmont Industries has a 52 week low of $120.65 and a 52 week high of $165.20.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.50 annualized dividend and a yield of 0.95%. Valmont Industries’s dividend payout ratio (DPR) is presently 18.59%.
A number of large investors have recently modified their holdings of VMI. Pinnacle Bank acquired a new position in shares of Valmont Industries during the first quarter valued at approximately $117,000. Gofen & Glossberg LLC IL acquired a new position in shares of Valmont Industries during the first quarter valued at approximately $205,000. Janney Montgomery Scott LLC acquired a new position in shares of Valmont Industries during the first quarter valued at approximately $207,000. Timber Hill LLC acquired a new position in shares of Valmont Industries during the first quarter valued at approximately $209,000. Finally, Verity Asset Management Inc. acquired a new position in shares of Valmont Industries during the first quarter valued at approximately $228,000. Hedge funds and other institutional investors own 84.44% of the company’s stock.
Valmont Industries Company Profile
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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