Q3 2017 Earnings Forecast for Vulcan Materials Company Issued By DA Davidson (VMC)
Vulcan Materials Company (NYSE:VMC) – DA Davidson lowered their Q3 2017 earnings per share estimates for shares of Vulcan Materials in a research report issued on Wednesday. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings per share of $0.80 for the quarter, down from their previous estimate of $1.01. DA Davidson also issued estimates for Vulcan Materials’ FY2018 earnings at $4.00 EPS.
Vulcan Materials (NYSE:VMC) last released its earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.32). The business had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share.
Several other research analysts also recently commented on the company. Bank of America Corporation dropped their price target on Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $122.00 price target on shares of Vulcan Materials in a research report on Friday, October 13th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a research report on Tuesday, October 10th. Citigroup Inc. reaffirmed a “buy” rating and issued a $140.00 price target (down from $145.00) on shares of Vulcan Materials in a research report on Monday, October 9th. Finally, Zacks Investment Research downgraded Vulcan Materials from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. Vulcan Materials presently has a consensus rating of “Hold” and a consensus target price of $137.57.
Vulcan Materials (NYSE VMC) opened at 121.61 on Monday. The stock’s 50 day moving average price is $118.09 and its 200 day moving average price is $122.38. The stock has a market capitalization of $16.09 billion, a PE ratio of 39.15 and a beta of 0.87. Vulcan Materials has a 1-year low of $108.95 and a 1-year high of $138.18.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, November 21st. Vulcan Materials’s dividend payout ratio is presently 32.36%.
In other news, insider Michael R. Mills sold 981 shares of the business’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 sale, the insider now directly owns 23,871 shares in the company, valued at $2,806,036.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David B. Pasley sold 1,250 shares of the business’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 sale, the insider now owns 2,857 shares in the company, valued at $347,154.07. The disclosure for this sale can be found here. Insiders own 0.89% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Vulcan Materials by 2.7% during the second quarter. Vanguard Group Inc. now owns 13,385,889 shares of the construction company’s stock valued at $1,695,724,000 after purchasing an additional 346,085 shares during the period. JPMorgan Chase & Co. increased its position in shares of Vulcan Materials by 2.7% during the second quarter. JPMorgan Chase & Co. now owns 4,774,421 shares of the construction company’s stock valued at $604,822,000 after purchasing an additional 127,405 shares during the period. Janus Henderson Group PLC increased its position in shares of Vulcan Materials by 4,985.8% during the second quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock valued at $533,271,000 after purchasing an additional 4,126,822 shares during the period. Bank of New York Mellon Corp increased its position in shares of Vulcan Materials by 2.3% during the second quarter. Bank of New York Mellon Corp now owns 2,617,707 shares of the construction company’s stock valued at $331,609,000 after purchasing an additional 58,520 shares during the period. Finally, Third Point LLC bought a new stake in shares of Vulcan Materials during the second quarter valued at approximately $202,688,000. Institutional investors and hedge funds own 87.10% of the company’s stock.
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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