William Blair Research Analysts Decrease Earnings Estimates for Valmont Industries, Inc. (VMI)
Valmont Industries, Inc. (NYSE:VMI) – Investment analysts at William Blair dropped their FY2017 earnings per share estimates for shares of Valmont Industries in a research report issued to clients and investors on Monday. William Blair analyst B. Drab now forecasts that the industrial products company will post earnings of $6.97 per share for the year, down from their prior forecast of $7.12.
Valmont Industries (NYSE:VMI) last released its earnings results on Wednesday, October 18th. The industrial products company reported $1.56 earnings per share for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.04). The firm had revenue of $680.78 million for the quarter, compared to the consensus estimate of $652.65 million. Valmont Industries had a return on equity of 14.56% and a net margin of 7.02%. The company’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 EPS.
Several other research analysts have also issued reports on VMI. BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Stifel Nicolaus reissued a “buy” rating and issued a $171.00 price objective on shares of Valmont Industries in a research report on Friday, July 14th. Boenning Scattergood reissued a “hold” rating on shares of Valmont Industries in a research report on Thursday, July 20th. Zacks Investment Research lowered Valmont Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Seaport Global Securities assumed coverage on Valmont Industries in a research report on Wednesday, September 6th. They issued a “buy” rating and a $160.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $176.50.
Shares of Valmont Industries (VMI) opened at 159.90 on Wednesday. The company has a market cap of $3.61 billion, a P/E ratio of 19.81 and a beta of 0.99. Valmont Industries has a 52-week low of $121.05 and a 52-week high of $165.20. The stock’s 50 day moving average price is $155.61 and its 200-day moving average price is $151.49.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 28th. Valmont Industries’s dividend payout ratio (DPR) is presently 17.90%.
Several hedge funds have recently bought and sold shares of VMI. Global X Management Co. LLC raised its position in shares of 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 raised its position in shares of 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 acquiring an additional 599 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of 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 acquiring an additional 8 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in shares of Valmont Industries in the 2nd quarter worth about $212,000. Finally, Verity Asset Management Inc. raised its position in shares of 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 acquiring an additional 119 shares in the last quarter. 83.70% of the stock is owned by hedge funds and other institutional investors.
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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