Vulcan Materials Company (VMC) Expected to Announce Quarterly Sales of $1.13 Billion
Wall Street brokerages predict that Vulcan Materials Company (NYSE:VMC) will post $1.13 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Vulcan Materials’ earnings. The lowest sales estimate is $1.12 billion and the highest is $1.14 billion. Vulcan Materials reported sales of $1.01 billion during the same quarter last year, which indicates a positive year over year growth rate of 11.9%. The business is expected to issue its next quarterly earnings report on Wednesday, November 1st.
On average, analysts expect that Vulcan Materials will report full year sales of $1.13 billion for the current year. For the next fiscal year, analysts forecast that the firm will post sales of $4.39 billion per share, with estimates ranging from $4.37 billion to $4.41 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Vulcan Materials.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.32). The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.07 billion. Vulcan Materials had a return on equity of 8.72% and a net margin of 11.28%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.90 EPS.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Jefferies Group LLC set a $114.00 price target on shares of Vulcan Materials and gave the stock a “hold” rating in a report on Tuesday, August 22nd. Stephens raised shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $140.00 to $145.00 in a report on Thursday, August 3rd. BidaskClub raised shares of Vulcan Materials from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $154.00 price target on shares of Vulcan Materials in a report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $136.00.
Shares of Vulcan Materials (NYSE:VMC) opened at 114.53 on Friday. The stock’s 50 day moving average is $117.97 and its 200 day moving average is $122.38. The firm has a market cap of $15.15 billion, a price-to-earnings ratio of 36.87 and a beta of 0.94. Vulcan Materials has a 12-month low of $105.71 and a 12-month high of $138.18.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Wednesday, August 23rd were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, August 21st. Vulcan Materials’s dividend payout ratio is 32.36%.
In related news, insider David B. Pasley sold 1,250 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $121.51, for a total transaction of $151,887.50. Following the completion of the transaction, the insider now directly owns 2,857 shares in the company, valued at approximately $347,154.07. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.89% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Gilder Gagnon Howe & Co. LLC acquired a new position in Vulcan Materials during the 1st quarter worth approximately $105,000. Sun Life Financial INC increased its position in Vulcan Materials by 10,666.7% during the 2nd quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock worth $123,000 after purchasing an additional 960 shares in the last quarter. NN Investment Partners Holdings N.V. increased its position in Vulcan Materials by 25.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock worth $126,000 after purchasing an additional 200 shares in the last quarter. Korea Investment CORP increased its position in Vulcan Materials by 140.5% during the 2nd quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock worth $156,000 after purchasing an additional 718 shares in the last quarter. Finally, Schroder Investment Management Group acquired a new position in Vulcan Materials during the 2nd quarter worth approximately $187,000. Institutional investors and hedge funds own 87.18% of the company’s stock.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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