Seaport Global Securities Weighs in on Valmont Industries, Inc.’s FY2017 Earnings (VMI)
Valmont Industries, Inc. (NYSE:VMI) – Research analysts at Seaport Global Securities cut their FY2017 earnings estimates for Valmont Industries in a note issued to investors on Friday. Seaport Global Securities analyst M. Shlisky now expects that the industrial products company will post earnings per share of $6.97 for the year, down from their previous estimate of $7.08. Seaport Global Securities has a “Buy” rating and a $160.00 price target on the stock. Seaport Global Securities also issued estimates for Valmont Industries’ Q4 2017 earnings at $1.67 EPS, Q1 2018 earnings at $2.01 EPS, Q2 2018 earnings at $2.12 EPS, Q3 2018 earnings at $1.85 EPS, Q4 2018 earnings at $2.01 EPS, FY2018 earnings at $7.98 EPS and FY2019 earnings at $8.89 EPS.
Several other research firms have also recently issued reports on VMI. Boenning Scattergood reiterated a “buy” rating and issued a $185.00 target price on shares of Valmont Industries in a research note on Thursday. Zacks Investment Research upgraded shares of Valmont Industries from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a research report on Tuesday, October 17th. Stifel Nicolaus restated a “buy” rating and set a $183.00 price objective on shares of Valmont Industries in a research report on Tuesday, October 17th. Finally, BidaskClub upgraded shares of Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $176.50.
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Valmont Industries (VMI) opened at 159.50 on Monday. The stock has a market capitalization of $3.60 billion, a PE ratio of 19.76 and a beta of 0.99. The company’s 50-day moving average is $155.09 and its 200 day moving average is $151.42. Valmont Industries has a 1-year low of $121.05 and a 1-year high of $165.20.
Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.04). The firm had revenue of $680.78 million during the quarter, compared to analysts’ expectations of $652.65 million. Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. The business’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 28th. Valmont Industries’s dividend payout ratio is presently 17.90%.
A number of large investors have recently bought and sold shares of VMI. Global X Management Co. LLC raised its position in Valmont Industries by 220.0% during the second 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 during the period. Riverhead Capital Management LLC raised its position in Valmont Industries by 85.6% during the second quarter. Riverhead Capital Management LLC now owns 1,299 shares of the industrial products company’s stock worth $194,000 after acquiring an additional 599 shares during the period. Janney Montgomery Scott LLC raised its position in Valmont Industries by 0.6% during the second quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock worth $200,000 after acquiring an additional 8 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Valmont Industries during the second quarter worth $212,000. Finally, Verity Asset Management Inc. raised its position in Valmont Industries by 8.1% during the second quarter. Verity Asset Management Inc. now owns 1,588 shares of the industrial products company’s stock worth $238,000 after acquiring an additional 119 shares during the period. Institutional investors own 83.63% of the company’s stock.
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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