Brokerages Expect Vulcan Materials Company (VMC) Will Post Quarterly Sales of $1.09 Billion
Equities analysts expect Vulcan Materials Company (NYSE:VMC) to report $1.09 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Vulcan Materials’ earnings. The highest sales estimate is $1.13 billion and the lowest is $1.04 billion. Vulcan Materials posted sales of $1.01 billion in the same quarter last year, which suggests a positive year over year growth rate of 7.9%. The business is scheduled to issue its next quarterly earnings report before the market opens on Wednesday, November 1st.
According to Zacks, analysts expect that Vulcan Materials will report full year sales of $1.09 billion for the current fiscal year, with estimates ranging from $3.78 billion to $3.92 billion. For the next fiscal year, analysts expect that the business will report sales of $4.32 billion per share, with estimates ranging from $4.18 billion to $4.38 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Vulcan Materials.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.32). Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year.
Several equities research analysts have weighed in on the company. Bank of America Corporation reduced their price objective on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research note on Thursday. Jefferies Group LLC reissued a “hold” rating and set a $122.00 price objective on shares of Vulcan Materials in a research note on Friday, October 13th. Royal Bank Of Canada reissued a “buy” rating and set a $154.00 price objective on shares of Vulcan Materials in a research note on Tuesday, October 10th. Citigroup Inc. reissued a “buy” rating and set a $140.00 price objective (down from $145.00) on shares of Vulcan Materials in a research note on Monday, October 9th. Finally, Zacks Investment Research cut Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $137.57.
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Vulcan Materials (NYSE:VMC) traded down 0.51% during mid-day trading on Monday, hitting $120.99. The company had a trading volume of 242,301 shares. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 38.95 and a beta of 0.87. The firm’s 50 day moving average is $118.09 and its 200 day moving average is $122.38. Vulcan Materials has a 52 week low of $108.95 and a 52 week high of $138.18.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. Vulcan Materials’s dividend payout ratio is 32.36%.
In other news, insider Michael R. Mills sold 981 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total transaction of $115,316.55. Following the transaction, the insider now owns 23,871 shares of the company’s stock, valued at $2,806,036.05. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 value of $151,887.50. Following the transaction, the insider now directly owns 2,857 shares in the company, valued at approximately $347,154.07. The disclosure for this sale can be found here. Corporate insiders own 0.89% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in VMC. Teachers Advisors LLC grew its stake in shares of Vulcan Materials by 5.7% during the first quarter. Teachers Advisors LLC now owns 156,790 shares of the construction company’s stock valued at $18,890,000 after buying an additional 8,411 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Vulcan Materials by 38.6% during the first quarter. Oppenheimer & Co. Inc. now owns 2,791 shares of the construction company’s stock valued at $336,000 after buying an additional 777 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Vulcan Materials during the first quarter valued at approximately $341,000. Highbridge Capital Management LLC grew its stake in shares of Vulcan Materials by 186.6% during the first quarter. Highbridge Capital Management LLC now owns 71,652 shares of the construction company’s stock valued at $8,633,000 after buying an additional 46,652 shares during the last quarter. Finally, BlueCrest Capital Management Ltd grew its stake in shares of Vulcan Materials by 6.5% during the first quarter. BlueCrest Capital Management Ltd now owns 67,958 shares of the construction company’s stock valued at $8,188,000 after buying an additional 4,158 shares during the last quarter. 87.10% of the stock is currently owned by hedge funds and other institutional investors.
Vulcan Materials Company Profile
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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