Valmont Industries (NYSE:VMI) Releases FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) issued an update on its FY24 earnings guidance on Tuesday morning. 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.

Valmont Industries Trading Down 1.4 %

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

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, October 22nd. The industrial products company reported $4.11 EPS for the quarter, topping analysts’ consensus estimates of $4.00 by $0.11. Valmont Industries had a return on equity of 23.63% and a net margin of 7.38%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm earned $4.12 earnings per share. The business’s revenue was down 2.9% compared to the same quarter last year. Sell-side analysts anticipate that Valmont Industries will post 16.78 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on VMI shares. StockNews.com raised Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. DA Davidson boosted their price target on Valmont Industries from $340.00 to $380.00 and gave the company a “buy” rating in a report on Thursday. Finally, Stifel Nicolaus boosted their price target on Valmont Industries from $350.00 to $360.00 and gave the company a “buy” rating in a report on Thursday. One analyst has rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Valmont Industries currently has a consensus rating of “Buy” and an average target price of $370.00.

Insider Transactions at Valmont Industries

In other Valmont Industries news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the transaction, the chief financial officer now directly owns 9,471 shares in the company, valued at $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries 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 sale, the chief financial officer now owns 9,471 shares of the company’s stock, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $300.12, for a total value of $480,192.00. Following the sale, the director now directly owns 3,685 shares in the company, valued at approximately $1,105,942.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.