Equities analysts forecast that Valmont Industries, Inc. (NYSE:VMI) will post $649.63 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Valmont Industries’ earnings, with estimates ranging from $641.20 million to $657.00 million. Valmont Industries reported sales of $610.25 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.5%. The firm is expected to issue its next quarterly earnings report on Wednesday, October 18th.

According to Zacks, analysts expect that Valmont Industries will report full year sales of $649.63 million for the current year, with estimates ranging from $2.68 billion to $2.75 billion. For the next fiscal year, analysts expect that the company will post sales of $2.83 billion per share, with estimates ranging from $2.74 billion to $2.92 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Valmont Industries.

Valmont Industries (NYSE:VMI) last announced its quarterly earnings results on Wednesday, July 19th. The industrial products company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.05. Valmont Industries had a net margin of 6.94% and a return on equity of 14.89%. The company had revenue of $712.70 million for the quarter, compared to analysts’ expectations of $668.06 million. During the same quarter in the previous year, the business posted $1.85 earnings per share. Valmont Industries’s quarterly revenue was up 11.3% on a year-over-year basis.

Several research firms recently commented on VMI. Zacks Investment Research raised Valmont Industries from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Monday, May 29th. Stifel Nicolaus reissued a “buy” rating and issued a $171.00 price objective on shares of Valmont Industries in a research note on Friday, July 14th. Boenning Scattergood reissued a “hold” rating on shares of Valmont Industries in a research note on Thursday, July 20th. Finally, BidaskClub raised Valmont Industries from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $168.00.

Shares of Valmont Industries (VMI) traded down 0.69% during midday trading on Friday, reaching $150.55. 36,396 shares of the company traded hands. Valmont Industries has a 1-year low of $120.65 and a 1-year high of $165.20. The firm has a market capitalization of $3.40 billion, a PE ratio of 18.65 and a beta of 0.97. The stock has a 50 day moving average price of $151.37 and a 200 day moving average price of $150.19.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.99%. The ex-dividend date of this dividend was Wednesday, June 28th. Valmont Industries’s dividend payout ratio is currently 18.59%.

A number of hedge funds and other institutional investors have recently bought and sold shares of VMI. Janney Montgomery Scott LLC increased its position in Valmont Industries by 0.6% in the second quarter. Janney Montgomery Scott LLC now owns 1,339 shares of the industrial products company’s stock valued at $200,000 after buying an additional 8 shares in the last quarter. Global Endowment Management LP increased its position in Valmont Industries by 0.4% in the first quarter. Global Endowment Management LP now owns 2,480 shares of the industrial products company’s stock valued at $386,000 after buying an additional 10 shares in the last quarter. Blair William & Co. IL increased its position in Valmont Industries by 2.9% in the second quarter. Blair William & Co. IL now owns 1,786 shares of the industrial products company’s stock valued at $267,000 after buying an additional 50 shares in the last quarter. Argent Capital Management LLC increased its position in Valmont Industries by 2.3% in the first quarter. Argent Capital Management LLC now owns 2,652 shares of the industrial products company’s stock valued at $412,000 after buying an additional 60 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Valmont Industries by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 5,700 shares of the industrial products company’s stock valued at $886,000 after buying an additional 100 shares in the last quarter. 84.97% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: “$649.63 Million in Sales Expected for Valmont Industries, Inc. (NYSE:VMI) This Quarter” was first posted by Daily Political and is the property of of Daily Political. If you are accessing this story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this story can be read at https://www.dailypolitical.com/2017/08/09/649-63-million-in-sales-expected-for-valmont-industries-inc-nysevmi-this-quarter.html.

Valmont Industries Company Profile

Valmont Industries, Inc is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Company’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other.

Get a free copy of the Zacks research report on Valmont Industries (VMI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Valmont Industries (NYSE:VMI)

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