Valmont Industries, Inc. Forecasted to Post FY2017 Earnings of $6.95 Per Share (VMI)
Valmont Industries, Inc. (NYSE:VMI) – Equities research analysts at Gabelli dropped their FY2017 earnings per share (EPS) estimates for Valmont Industries in a research note issued on Friday. Gabelli analyst J. Garza now forecasts that the industrial products company will post earnings of $6.95 per share for the year, down from their previous estimate of $7.05. Gabelli also issued estimates for Valmont Industries’ FY2020 earnings at $9.40 EPS and FY2021 earnings at $10.10 EPS.
Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.04). The business had revenue of $680.78 million for the quarter, compared to analyst estimates of $652.65 million. Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. The firm’s revenue for the quarter was up 11.6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.48 EPS.
VMI has been the subject of a number of other research reports. Zacks Investment Research cut Valmont Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Boenning Scattergood upgraded Valmont Industries from a “neutral” rating to an “outperform” rating in a report on Friday, August 11th. Stifel Nicolaus reiterated a “buy” rating and set a $183.00 target price on shares of Valmont Industries in a report on Tuesday, October 17th. Seaport Global Securities assumed coverage on Valmont Industries in a report on Wednesday, September 6th. They set a “buy” rating and a $160.00 target price for the company. Finally, BidaskClub cut Valmont Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $176.50.
Shares of Valmont Industries (NYSE:VMI) opened at 159.50 on Monday. The stock’s 50 day moving average is $155.09 and its 200 day moving average is $151.42. The firm has a market cap of $3.60 billion, a PE ratio of 19.76 and a beta of 0.99. Valmont Industries has a 12 month low of $121.05 and a 12 month high of $165.20.
Large investors have recently modified their holdings of the company. UBS Asset Management Americas Inc. grew its holdings in shares of Valmont Industries by 13.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 22,463 shares of the industrial products company’s stock worth $3,493,000 after purchasing an additional 2,611 shares during the period. Legal & General Group Plc grew its holdings in shares of Valmont Industries by 54.6% during the 1st quarter. Legal & General Group Plc now owns 22,867 shares of the industrial products company’s stock worth $3,555,000 after purchasing an additional 8,076 shares during the period. Morgan Stanley grew its holdings in shares of Valmont Industries by 78.1% during the 1st quarter. Morgan Stanley now owns 142,825 shares of the industrial products company’s stock worth $22,209,000 after purchasing an additional 62,613 shares during the period. American Century Companies Inc. grew its holdings in shares of Valmont Industries by 5.0% during the 2nd quarter. American Century Companies Inc. now owns 135,512 shares of the industrial products company’s stock worth $20,273,000 after purchasing an additional 6,485 shares during the period. Finally, Prudential Financial Inc. grew its holdings in shares of Valmont Industries by 516.7% during the 2nd quarter. Prudential Financial Inc. now owns 150,833 shares of the industrial products company’s stock worth $22,565,000 after purchasing an additional 126,375 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 28th. Valmont Industries’s payout ratio is currently 17.90%.
Valmont Industries Company Profile
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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