Valmont Industries (NYSE:VMI – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 16.500-17.300 for the period, compared to the consensus earnings per share 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.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. StockNews.com raised Valmont Industries from a hold rating to a buy rating in a research report on Thursday, July 18th. Stifel Nicolaus lifted their target price on Valmont Industries from $285.00 to $325.00 and gave the company a buy rating in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $300.00.
Check Out Our Latest Stock Report on VMI
Valmont Industries Price Performance
Valmont Industries (NYSE:VMI – Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.24 by $1.08. Valmont Industries had a return on equity of 22.14% and a net margin of 3.83%. The firm had revenue of $977.83 million during the quarter, compared to the consensus estimate of $986.98 million. During the same quarter in the previous year, the business earned $3.54 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. As a group, sell-side analysts predict that Valmont Industries will post 15.96 earnings per share for the current year.
Valmont Industries Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, June 28th. Valmont Industries’s dividend payout ratio (DPR) is 31.62%.
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.
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