Valmont Industries (NYSE:VMI) Releases FY 2021 Earnings Guidance
Valmont Industries (NYSE:VMI) updated its FY 2021 earnings guidance on Tuesday. The company provided EPS guidance of 9.000-9.700 for the period, compared to the Thomson Reuters consensus EPS estimate of $9.360. The company issued revenue guidance of $3.16 billion-$3.30 billion, compared to the consensus revenue estimate of $3.21 billion.Valmont Industries also updated its Q2 2021 guidance to – EPS.
Several equities research analysts have issued reports on the company. DA Davidson increased their target price on Valmont Industries from $200.00 to $215.00 and gave the stock a neutral rating in a research report on Friday, April 23rd. They noted that the move was a valuation call. Zacks Investment Research downgraded Valmont Industries from a hold rating to a sell rating and set a $242.00 price objective on the stock. in a research report on Wednesday, April 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $203.33.
Shares of NYSE:VMI traded up $2.54 on Tuesday, reaching $250.80. 1,313 shares of the company traded hands, compared to its average volume of 156,648. The company has a current ratio of 2.36, a quick ratio of 1.68 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $5.33 billion, a P/E ratio of 37.90 and a beta of 1.16. Valmont Industries has a 52 week low of $98.00 and a 52 week high of $251.76. The business’s 50-day simple moving average is $239.76 and its 200 day simple moving average is $199.88.
The business also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Shareholders of record on Friday, March 26th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Thursday, March 25th. This is an increase from Valmont Industries’s previous quarterly dividend of $0.45. Valmont Industries’s payout ratio is 28.33%.
In other Valmont Industries news, VP R Andrew Massey sold 1,780 shares of Valmont Industries stock in a transaction that occurred on Wednesday, March 10th. The shares were sold at an average price of $241.50, for a total value of $429,870.00. Following the completion of the sale, the vice president now owns 7,430 shares of the company’s stock, valued at approximately $1,794,345. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Stephen G. Kaniewski sold 17,539 shares of the business’s stock in a transaction on Friday, February 26th. The shares were sold at an average price of $236.86, for a total transaction of $4,154,287.54. Following the sale, the chief executive officer now directly owns 47,474 shares of the company’s stock, valued at approximately $11,244,691.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 59,562 shares of company stock valued at $13,914,674. 3.00% of the stock is currently owned by insiders.
About Valmont Industries
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.
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