Vale (NYSE:VALE) Issues Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Vale (NYSE:VALE) posted its earnings results on Thursday. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09), Zacks reports. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.45 billion. Vale had a net margin of 5.11% and a return on equity of 19.87%.

Vale Trading Up 2.2%

NYSE VALE traded up $0.24 on Friday, reaching $11.43. The company had a trading volume of 22,236,685 shares, compared to its average volume of 30,419,467. Vale has a 52 week low of $11.06 and a 52 week high of $17.94. The stock’s 50 day moving average is $13.93 and its 200-day moving average is $15.26. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.45. The stock has a market cap of $51.86 billion, a price-to-earnings ratio of 23.34 and a beta of 0.42.

Analysts Set New Price Targets

VALE has been the subject of several research analyst reports. Morgan Stanley set a $15.50 price objective on Vale in a research report on Wednesday, October 7th. Royal Bank Of Canada upped their price target on Vale from $15.00 to $16.00 and gave the company a “sector perform” rating in a report on Wednesday, September 16th. Wall Street Zen downgraded Vale from a “buy” rating to a “hold” rating in a report on Saturday, July 18th. The Goldman Sachs Group downgraded shares of Vale from a “buy” rating to a “neutral” rating and cut their price target for the company from $18.00 to $16.00 in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Vale from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, September 30th. Three investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $15.71.

Vale Company Profile

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.