Valmont Industries (NYSE:VMI) Issues FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $16.50-17.30 for the period, compared to the consensus EPS estimate of $15.85. The company issued revenue guidance of $4.03-4.11 billion, compared to the consensus revenue estimate of $4.14 billion. Valmont Industries also updated its FY 2024 guidance to 16.500-17.300 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lifted their price target on Valmont Industries from $285.00 to $325.00 and gave the company a buy rating in a report on Thursday, July 18th. StockNews.com raised Valmont Industries from a hold rating to a buy rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $300.00.

Valmont Industries Price Performance

Shares of NYSE VMI traded down $5.71 during mid-day trading on Wednesday, reaching $270.90. 192,594 shares of the company traded hands, compared to its average volume of 178,244. Valmont Industries has a fifty-two week low of $188.63 and a fifty-two week high of $290.15. The company has a debt-to-equity ratio of 0.79, a current ratio of 2.64 and a quick ratio of 1.65. The firm has a market cap of $5.47 billion, a PE ratio of 35.69 and a beta of 1.03. The stock has a fifty day simple moving average of $265.97 and a 200-day simple moving average of $239.31.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $4.32 EPS for the quarter, beating analysts’ consensus estimates of $3.24 by $1.08. The business had revenue of $977.83 million for the quarter, compared to analyst estimates of $986.98 million. Valmont Industries had a net margin of 3.83% and a return on equity of 22.14%. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. During the same quarter last year, the business earned $3.54 earnings per share. Equities research analysts anticipate that Valmont Industries will post 15.96 EPS for the current fiscal year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, June 28th. Valmont Industries’s payout ratio is 31.62%.

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.