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

Valmont Industries (NYSE:VMI) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 16.500-17.300 for the period, compared to the consensus earnings per share estimate of 16.920. 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

VMI has been the subject of a number of research analyst reports. Stifel Nicolaus boosted their target price on shares of Valmont Industries from $285.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. StockNews.com upgraded Valmont Industries from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 12th. Finally, DA Davidson raised their target price on Valmont Industries from $300.00 to $340.00 and gave the company a “buy” rating in a report on Friday, July 26th. One analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $332.50.

Valmont Industries Stock Performance

Shares of VMI traded down $6.97 during trading hours on Tuesday, reaching $294.94. 137,958 shares of the company traded hands, compared to its average volume of 156,124. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.63 and a current ratio of 2.53. The stock’s fifty day moving average is $285.56 and its 200 day moving average is $267.21. Valmont Industries has a 1-year low of $188.63 and a 1-year high of $312.61. The stock has a market cap of $5.96 billion, a P/E ratio of 39.20 and a beta of 1.02.

Valmont Industries (NYSE:VMI) last posted its quarterly earnings results on Wednesday, July 24th. The industrial products company reported $4.76 EPS for the quarter, beating the consensus estimate of $4.04 by $0.72. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Equities research 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 declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Friday, September 27th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $2.40 dividend on an annualized basis and a yield of 0.81%. Valmont Industries’s dividend payout ratio is currently 31.62%.

Insider Activity

In other news, CFO Timothy P. Francis sold 2,300 shares of Valmont Industries stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total transaction of $686,527.00. Following the sale, the chief financial officer now directly owns 9,471 shares in the company, valued at approximately $2,826,998.79. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Theodor Werner Freye sold 1,600 shares of the business’s stock in a transaction 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Timothy P. Francis sold 2,300 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $298.49, for a total value of $686,527.00. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

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.