FY2017 EPS Estimates for Valmont Industries, Inc. Lowered by DA Davidson (VMI)
Valmont Industries, Inc. (NYSE:VMI) – Research analysts at DA Davidson decreased their FY2017 EPS estimates for shares of Valmont Industries in a research report issued on Thursday. DA Davidson analyst B. Thielman now expects that the industrial products company will post earnings per share of $6.95 for the year, down from their previous estimate of $7.06. DA Davidson also issued estimates for Valmont Industries’ Q4 2017 earnings at $1.66 EPS, Q1 2018 earnings at $1.75 EPS, Q2 2018 earnings at $2.25 EPS, Q3 2018 earnings at $1.90 EPS, Q4 2018 earnings at $2.00 EPS, FY2018 earnings at $7.90 EPS and FY2019 earnings at $8.95 EPS.
Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.04). The business had revenue of $680.78 million during the quarter, compared to analysts’ expectations of $652.65 million. Valmont Industries had a net margin of 7.02% and a return on equity of 14.56%. The firm’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.48 EPS.
Several other equities research analysts also recently issued reports on the company. Boenning Scattergood reissued an “outperform” rating on shares of Valmont Industries in a research note on Tuesday, September 5th. Seaport Global Securities started coverage on Valmont Industries in a research note on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price objective for the company. Zacks Investment Research downgraded Valmont Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $171.00 price objective on shares of Valmont Industries in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $176.50.
Shares of Valmont Industries (NYSE:VMI) opened at 159.50 on Monday. Valmont Industries has a 12-month low of $121.05 and a 12-month high of $165.20. The firm has a 50-day moving average price of $155.09 and a 200 day moving average price of $151.42. The stock has a market cap of $3.60 billion, a PE ratio of 19.76 and a beta of 0.99.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.94%. The ex-dividend date was Thursday, September 28th. Valmont Industries’s dividend payout ratio is currently 17.90%.
Institutional investors have recently made changes to their positions in the stock. Global X Management Co. LLC lifted its stake in Valmont Industries by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 720 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 495 shares in the last quarter. Riverhead Capital Management LLC increased its position in Valmont Industries by 85.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock worth $194,000 after purchasing an additional 599 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Valmont Industries by 0.6% in the 2nd quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock worth $200,000 after purchasing an additional 8 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Valmont Industries in the 2nd quarter worth about $212,000. Finally, Verity Asset Management Inc. increased its position in Valmont Industries by 8.1% in the 2nd quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock worth $238,000 after purchasing an additional 119 shares during the last quarter. 83.63% of the stock is owned by hedge funds and other 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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