$1.62 Earnings Per Share Expected for Valmont Industries, Inc. (VMI) This Quarter
Equities analysts expect Valmont Industries, Inc. (NYSE:VMI) to announce earnings per share (EPS) of $1.62 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Valmont Industries’ earnings, with the highest EPS estimate coming in at $1.68 and the lowest estimate coming in at $1.55. Valmont Industries posted earnings per share of $1.48 in the same quarter last year, which suggests a positive year over year growth rate of 9.5%. The firm is expected to issue its next earnings report after the market closes on Wednesday, October 18th.
According to Zacks, analysts expect that Valmont Industries will report full-year earnings of $7.11 per share for the current fiscal year, with EPS estimates ranging from $7.05 to $7.24. For the next year, analysts expect that the business will report earnings of $8.03 per share, with EPS estimates ranging from $7.70 to $8.17. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Valmont Industries.
Valmont Industries (NYSE:VMI) last issued its earnings results on Wednesday, July 19th. The industrial products company reported $2.01 EPS for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.05. The firm had revenue of $712.70 million for the quarter, compared to analyst estimates of $668.06 million. Valmont Industries had a return on equity of 14.89% and a net margin of 6.94%. Valmont Industries’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share.
VMI has been the topic of several research analyst reports. Zacks Investment Research lowered Valmont Industries from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Stifel Nicolaus restated a “buy” rating and set a $171.00 price target on shares of Valmont Industries in a research note on Friday, July 14th. BidaskClub upgraded Valmont Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Boenning Scattergood restated a “hold” rating on shares of Valmont Industries in a research note on Thursday, July 20th. Finally, Seaport Global Securities assumed coverage on Valmont Industries in a research note on Wednesday. They set a “buy” rating and a $160.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $165.33.
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A number of large investors have recently added to or reduced their stakes in VMI. BlackRock Inc. grew its stake in Valmont Industries by 13,061.6% during the 1st 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. Pictet Asset Management Ltd. grew its stake in Valmont Industries by 90.0% during the 2nd quarter. Pictet Asset Management Ltd. now owns 407,665 shares of the industrial products company’s stock worth $59,682,000 after buying an additional 193,098 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Valmont Industries by 55.3% during the 1st 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 during the last quarter. Prudential Financial Inc. grew its stake in Valmont Industries by 516.7% during the 2nd quarter. Prudential Financial Inc. now owns 150,833 shares of the industrial products company’s stock worth $22,565,000 after buying an additional 126,375 shares during the last quarter. Finally, Kennedy Capital Management Inc. purchased a new position in Valmont Industries during the 1st quarter worth approximately $14,376,000. Hedge funds and other institutional investors own 83.98% of the company’s stock.
Shares of Valmont Industries (NYSE:VMI) traded up 0.93% during midday trading on Friday, reaching $146.55. The company had a trading volume of 95,808 shares. Valmont Industries has a 52-week low of $120.65 and a 52-week high of $165.20. The company’s 50 day moving average price is $148.85 and its 200 day moving average price is $150.74. The stock has a market capitalization of $3.31 billion, a PE ratio of 21.36 and a beta of 0.98.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.50 dividend on an annualized basis and a yield of 1.02%. Valmont Industries’s dividend payout ratio is presently 18.59%.
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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