Valmont Industries (NYSE:VMI) Releases FY24 Earnings Guidance

Valmont Industries (NYSE:VMI) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $16.50-17.30 for the period, compared to the consensus estimate of $15.85. The company issued revenue guidance of $4.03-4.11 billion, compared to the consensus revenue estimate of $4.14 billion. Valmont Industries also updated its FY 2024 guidance to 16.500-17.300 EPS.

Valmont Industries Trading Up 1.0 %

Shares of NYSE VMI opened at $302.59 on Friday. The stock’s 50 day moving average price is $267.66 and its two-hundred day moving average price is $240.23. Valmont Industries has a 52-week low of $188.63 and a 52-week high of $307.67. The stock has a market capitalization of $6.11 billion, a P/E ratio of 39.86 and a beta of 1.03. The company has a quick ratio of 1.65, a current ratio of 2.53 and a debt-to-equity ratio of 0.69.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $4.32 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $1.08. The business had revenue of $977.83 million for the quarter, compared to analysts’ expectations of $986.98 million. Valmont Industries had a return on equity of 23.30% and a net margin of 4.09%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $3.54 EPS. On average, analysts anticipate that Valmont Industries will post 16.9 earnings per share for the current fiscal year.

Valmont Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, June 28th. Valmont Industries’s payout ratio is 31.62%.

Analyst Upgrades and Downgrades

VMI has been the subject of a number of recent analyst reports. StockNews.com raised Valmont Industries from a hold rating to a buy rating in a report on Thursday, July 18th. DA Davidson increased their price objective on Valmont Industries from $300.00 to $340.00 and gave the stock a buy rating in a report on Friday. Finally, Stifel Nicolaus increased their price objective on Valmont Industries from $285.00 to $325.00 and gave the stock a buy rating in a report on Thursday, July 18th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Valmont Industries has a consensus rating of Moderate Buy and a consensus target price of $332.50.

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.