Vulcan Materials Company (VMC) Expected to Announce Quarterly Sales of $947.39 Million
Equities research analysts expect Vulcan Materials Company (NYSE:VMC) to post $947.39 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Vulcan Materials’ earnings, with estimates ranging from $922.90 million to $980.00 million. Vulcan Materials posted sales of $872.98 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.5%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 6th.
According to Zacks, analysts expect that Vulcan Materials will report full-year sales of $947.39 million for the current financial year, with estimates ranging from $3.84 billion to $3.87 billion. For the next financial year, analysts forecast that the firm will post sales of $4.22 billion per share, with estimates ranging from $4.20 billion to $4.25 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Vulcan Materials.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, November 1st. The construction company reported $1.04 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.40 by ($0.36). Vulcan Materials had a net margin of 10.20% and a return on equity of 8.71%. The business had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $1.01 EPS. Vulcan Materials’s revenue for the quarter was up 8.6% compared to the same quarter last year.
VMC has been the subject of several analyst reports. Jefferies Group increased their target price on shares of Vulcan Materials from $122.00 to $128.00 and gave the stock a “hold” rating in a report on Friday, November 3rd. Bank of America cut their price objective on shares of Vulcan Materials from $130.00 to $128.00 and set a “neutral” rating for the company in a report on Thursday, October 19th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $154.00 price objective on shares of Vulcan Materials in a report on Tuesday, October 10th. Citigroup reaffirmed a “buy” rating and set a $140.00 price objective (down from $145.00) on shares of Vulcan Materials in a report on Monday, October 9th. Finally, Zacks Investment Research lowered shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $140.00.
In related news, insider David B. Pasley sold 1,250 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $121.51, for a total value of $151,887.50. Following the completion of the sale, the insider now directly owns 2,857 shares in the company, valued at $347,154.07. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michael R. Mills sold 981 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $117.55, for a total value of $115,316.55. Following the completion of the sale, the insider now owns 23,871 shares of the company’s stock, valued at $2,806,036.05. The disclosure for this sale can be found here. 0.89% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. Sun Life Financial INC increased its stake in Vulcan Materials by 10,666.7% in the second quarter. Sun Life Financial INC now owns 969 shares of the construction company’s stock worth $123,000 after purchasing an additional 960 shares during the period. NN Investment Partners Holdings N.V. increased its stake in Vulcan Materials by 25.2% in the second quarter. NN Investment Partners Holdings N.V. now owns 994 shares of the construction company’s stock worth $126,000 after purchasing an additional 200 shares during the period. Korea Investment CORP increased its stake in Vulcan Materials by 140.5% in the second quarter. Korea Investment CORP now owns 1,229 shares of the construction company’s stock worth $156,000 after purchasing an additional 718 shares during the period. Schroder Investment Management Group purchased a new stake in Vulcan Materials in the second quarter worth $187,000. Finally, Wetherby Asset Management Inc. purchased a new stake in Vulcan Materials in the second quarter worth $203,000. Institutional investors own 89.11% of the company’s stock.
Shares of Vulcan Materials (NYSE:VMC) opened at $124.86 on Thursday. Vulcan Materials has a 52-week low of $108.95 and a 52-week high of $136.82. The company has a market cap of $16,090.00, a PE ratio of 41.19, a PEG ratio of 2.39 and a beta of 0.86. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.34 and a current ratio of 4.22.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Wednesday, November 22nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.80%. Vulcan Materials’s dividend payout ratio is currently 34.13%.
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About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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