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

Valmont Industries (NYSE:VMI) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 16.500-17.300 for the period, compared to the consensus estimate of 15.850. 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. DA Davidson increased their target price on shares of Valmont Industries from $300.00 to $340.00 and gave the stock a buy rating in a research note on Friday. StockNews.com upgraded shares of Valmont Industries from a hold rating to a buy rating in a research note on Thursday, July 18th. Finally, Stifel Nicolaus increased their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a buy rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Valmont Industries has a consensus rating of Moderate Buy and a consensus price target of $332.50.

Valmont Industries Trading Up 1.0 %

NYSE VMI traded up $2.94 during mid-day trading on Friday, reaching $302.59. 185,653 shares of the stock were exchanged, compared to its average volume of 152,750. Valmont Industries has a 1-year low of $188.63 and a 1-year high of $307.67. The business’s fifty day simple moving average is $267.66 and its 200 day simple moving average is $240.23. The stock has a market capitalization of $6.11 billion, a PE ratio of 39.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.65 and a current ratio of 2.53.

Valmont Industries (NYSE:VMI) last announced its earnings results on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.24 by $1.08. The firm had revenue of $977.83 million for the quarter, compared to analyst estimates of $986.98 million. Valmont Industries had a net margin of 4.09% and a return on equity of 23.30%. Valmont Industries’s revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned $3.54 earnings per share. On average, research analysts anticipate that Valmont Industries will post 16.9 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.60 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. Valmont Industries’s dividend payout ratio (DPR) is presently 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.