FY2017 Earnings Forecast for Vulcan Materials Company (VMC) Issued By SunTrust Banks
Vulcan Materials Company (NYSE:VMC) – Stock analysts at SunTrust Banks cut their FY2017 earnings per share (EPS) estimates for shares of Vulcan Materials in a research report issued to clients and investors on Monday. SunTrust Banks analyst R. Seth now forecasts that the construction company will post earnings per share of $2.95 for the year, down from their prior estimate of $3.19. SunTrust Banks also issued estimates for Vulcan Materials’ Q4 2017 earnings at $0.87 EPS, Q2 2018 earnings at $1.26 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $1.16 EPS, FY2018 earnings at $4.33 EPS, FY2019 earnings at $5.41 EPS and FY2020 earnings at $6.58 EPS.
VMC has been the subject of several other research reports. Bank of America Corporation reduced their price objective on shares of Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a research note on Thursday, October 19th. BidaskClub lowered shares of Vulcan Materials from a “sell” rating to a “strong sell” rating in a research note on Monday, July 31st. Stephens upgraded shares of Vulcan Materials from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $140.00 to $145.00 in a research note on Thursday, August 3rd. Jefferies Group LLC reiterated a “hold” rating and set a $122.00 price objective on shares of Vulcan Materials in a research note on Friday, October 13th. Finally, Royal Bank Of Canada reiterated a “buy” rating and set a $154.00 price objective on shares of Vulcan Materials in a research note on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $137.57.
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Shares of Vulcan Materials (NYSE:VMC) opened at 123.76 on Wednesday. The stock’s 50 day moving average is $118.24 and its 200-day moving average is $122.45. Vulcan Materials has a 12-month low of $108.95 and a 12-month high of $138.18. The stock has a market cap of $16.37 billion, a PE ratio of 39.85 and a beta of 0.87.
Vulcan Materials (NYSE:VMC) last posted its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.32). Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The firm had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company earned $0.90 EPS. The company’s quarterly revenue was up 7.7% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders 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 yield of 0.81%. Vulcan Materials’s payout ratio is 32.36%.
In other Vulcan Materials news, insider Michael R. Mills sold 981 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were 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 in the company, valued at approximately $2,806,036.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $151,887.50. Following the transaction, the insider now 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.
Institutional investors have recently modified their holdings of the business. Sun Life Financial INC increased its stake in Vulcan Materials by 10,666.7% during the 2nd quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock valued at $123,000 after purchasing an additional 960 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in Vulcan Materials by 25.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock valued at $126,000 after purchasing an additional 200 shares in the last quarter. Korea Investment CORP increased its stake in Vulcan Materials by 140.5% during the 2nd quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock valued at $156,000 after purchasing an additional 718 shares in the last quarter. Schroder Investment Management Group acquired a new position in Vulcan Materials during the 2nd quarter valued at approximately $187,000. Finally, Wetherby Asset Management Inc. acquired a new position in Vulcan Materials during the 2nd quarter valued at approximately $203,000. Institutional investors and hedge funds own 87.15% 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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