Valmont Industries (NYSE:VMI) Releases FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share guidance of $16.50-$17.30 for the period, compared to the consensus earnings per share estimate of $16.94. The company issued revenue guidance of $4.03-$4.11 billion, compared to the consensus revenue estimate of $4.06 billion. Valmont Industries also updated its FY 2024 guidance to 16.500-17.300 EPS.

Wall Street Analyst Weigh In

VMI has been the topic of a number of analyst reports. StockNews.com raised shares of Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. DA Davidson upped their target price on shares of Valmont Industries from $340.00 to $380.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Stifel Nicolaus upped their target price on shares of 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 given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Valmont Industries presently has a consensus rating of “Buy” and an average target price of $370.00.

Valmont Industries Stock Down 1.4 %

Shares of VMI stock opened at $320.96 on Friday. The company has a market capitalization of $6.47 billion, a price-to-earnings ratio of 21.80 and a beta of 1.02. Valmont Industries has a 12-month low of $188.63 and a 12-month high of $330.97. The firm has a fifty day moving average of $287.45 and a 200-day moving average of $268.48. The company has a quick ratio of 1.63, a current ratio of 2.53 and a debt-to-equity ratio of 0.69.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings data on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm posted $4.12 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, equities research analysts predict that Valmont Industries will post 16.78 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.75%. The ex-dividend date was Friday, September 27th. Valmont Industries’s dividend payout ratio (DPR) is 16.30%.

Insider Buying and Selling at Valmont Industries

In related news, Director Theodor Werner Freye sold 1,600 shares of Valmont Industries stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the sale, the director now directly owns 3,685 shares of the company’s stock, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Valmont Industries news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $300.12, for a total transaction of $480,192.00. Following the sale, the director now directly owns 3,685 shares of the company’s stock, valued at $1,105,942.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Timothy P. Francis sold 2,300 shares of the business’s 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 completion of 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 disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.

Valmont Industries Company Profile

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.