Valmont Industries (NYSE:VMI) Issues Earnings Results, Beats Estimates By $0.56 EPS

Valmont Industries (NYSE:VMI) released its earnings results on Tuesday. The industrial products company reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.50 by $0.56, MarketWatch Earnings reports. The firm had revenue of $894.63 million during the quarter, compared to the consensus estimate of $815.05 million. Valmont Industries had a return on equity of 15.61% and a net margin of 5.10%. The firm’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.00 earnings per share.

NYSE:VMI traded down $0.52 during trading hours on Thursday, hitting $229.18. 5,181 shares of the stock traded hands, compared to its average volume of 89,878. The business’s 50 day simple moving average is $237.83. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.58. Valmont Industries has a fifty-two week low of $117.36 and a fifty-two week high of $265.09. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 31.78 and a beta of 1.18.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Friday, June 25th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Thursday, June 24th. Valmont Industries’s dividend payout ratio (DPR) is currently 24.45%.

In other Valmont Industries news, EVP Aaron M. Schapper sold 1,004 shares of the business’s stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $251.00, for a total transaction of $252,004.00. Following the sale, the executive vice president now directly owns 7,480 shares of the company’s stock, valued at approximately $1,877,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.40% of the stock is owned by insiders.

VMI has been the subject of a number of recent research reports. Boenning Scattergood upgraded Valmont Industries from a “neutral” rating to an “outperform” rating and set a $350.00 price objective for the company in a research report on Thursday. DA Davidson increased their price objective on Valmont Industries from $200.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, April 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Valmont Industries from a “hold” rating to a “sell” rating and set a $242.00 price objective for the company. in a research report on Wednesday, April 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $240.00.

Valmont Industries Company Profile

Valmont Industries, Inc produces and sells fabricated metal products in the United States, Australia, Denmark, and internationally. The company operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, steel, wood, aluminum, and composite poles, towers, and components for lighting, traffic, and wireless communication markets; engineered access systems; integrated structure solutions for smart cities; and highway safety products.

Read More: Why Invest in Dividend Kings

Earnings History for Valmont Industries (NYSE:VMI)

Receive News & Ratings for Valmont Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Valmont Industries and related companies with MarketBeat.com's FREE daily email newsletter.