Valmont Industries (NYSE:VMI) Releases FY 2024 Earnings Guidance

Valmont Industries (NYSE:VMI) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 16.500-17.300 for the period, compared to the consensus estimate of 16.920. The company issued revenue guidance of $4.0 billion-$4.1 billion, compared to the consensus revenue estimate of $4.1 billion. Valmont Industries also updated its FY24 guidance to $16.50-$17.30 EPS.

Valmont Industries Stock Performance

NYSE:VMI traded up $1.87 during midday trading on Friday, hitting $322.50. The company’s stock had a trading volume of 3,607 shares, compared to its average volume of 156,516. Valmont Industries has a fifty-two week low of $188.63 and a fifty-two week high of $330.97. The firm’s 50 day moving average is $287.45 and its 200-day moving average is $268.48. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.53 and a quick ratio of 1.63. The firm has a market cap of $6.50 billion, a P/E ratio of 21.80 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last issued its quarterly earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 earnings per share for the quarter, topping the consensus estimate of $4.00 by $0.11. Valmont Industries had a net margin of 7.38% and a return on equity of 23.63%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the prior year, the company earned $4.12 EPS. Valmont Industries’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts anticipate that Valmont Industries will post 16.78 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 annualized dividend and a yield of 0.74%. Valmont Industries’s dividend payout ratio is presently 16.30%.

Wall Street Analysts Forecast Growth

Several research firms have commented on VMI. DA Davidson upped their price objective on Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 12th. Finally, Stifel Nicolaus upped their price objective on Valmont Industries from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $370.00.

Insider Activity

In other news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total transaction of $686,527.00. Following the transaction, the chief financial officer now owns 9,471 shares in the company, valued at $2,826,998.79. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Timothy P. Francis sold 2,300 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the transaction, the chief financial officer now directly owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Theodor Werner Freye sold 1,600 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total value of $480,192.00. Following the completion of the transaction, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

About Valmont Industries

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.