Q1 2024 Earnings Forecast for Vulcan Materials (NYSE:VMC) Issued By Seaport Res Ptn

Vulcan Materials (NYSE:VMC) – Investment analysts at Seaport Res Ptn cut their Q1 2024 EPS estimates for Vulcan Materials in a research report issued on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will post earnings of $0.78 per share for the quarter, down from their prior estimate of $1.45. The consensus estimate for Vulcan Materials’ current full-year earnings is $8.47 per share. Seaport Res Ptn also issued estimates for Vulcan Materials’ Q3 2024 earnings at $3.02 EPS and Q4 2024 earnings at $2.11 EPS.

Vulcan Materials (NYSE:VMC) last posted its quarterly earnings data on Friday, February 16th. The construction company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.84 billion. Vulcan Materials had a net margin of 11.99% and a return on equity of 12.80%. Vulcan Materials’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.08 earnings per share.

A number of other research analysts have also issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Vulcan Materials from $264.00 to $292.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $270.00 price target (up from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Royal Bank of Canada boosted their price target on shares of Vulcan Materials from $236.00 to $269.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 20th. Wolfe Research lowered shares of Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Finally, Raymond James boosted their price target on shares of Vulcan Materials from $225.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $273.00.

Vulcan Materials Trading Down 1.4 %

NYSE VMC opened at $257.72 on Monday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.39 and a current ratio of 3.17. The firm has a market cap of $34.09 billion, a PE ratio of 36.92, a P/E/G ratio of 1.89 and a beta of 0.83. Vulcan Materials has a one year low of $174.17 and a one year high of $276.58. The firm’s fifty day moving average is $265.11 and its two-hundred day moving average is $235.73.

Hedge Funds Weigh In On Vulcan Materials

A number of institutional investors have recently modified their holdings of VMC. Register Financial Advisors LLC acquired a new position in shares of Vulcan Materials in the first quarter valued at approximately $27,000. Exchange Traded Concepts LLC acquired a new position in Vulcan Materials during the fourth quarter worth approximately $28,000. Opal Wealth Advisors LLC acquired a new position in Vulcan Materials during the first quarter worth approximately $33,000. YHB Investment Advisors Inc. acquired a new position in Vulcan Materials during the first quarter worth approximately $34,000. Finally, Concord Wealth Partners acquired a new position in Vulcan Materials during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Buying and Selling at Vulcan Materials

In other Vulcan Materials news, SVP Denson N. Franklin III sold 3,200 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the sale, the senior vice president now owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Vulcan Materials news, SVP Denson N. Franklin III sold 3,200 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $269.48, for a total value of $862,336.00. Following the sale, the senior vice president now owns 5,395 shares of the company’s stock, valued at $1,453,844.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Melissa H. Anderson sold 1,200 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $260.48, for a total transaction of $312,576.00. Following the completion of the sale, the director now directly owns 330 shares in the company, valued at approximately $85,958.40. The disclosure for this sale can be found here. Insiders have sold 13,017 shares of company stock valued at $3,344,741 over the last quarter. Corporate insiders own 0.61% of the company’s stock.

Vulcan Materials Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend was Friday, March 1st. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.43. Vulcan Materials’s dividend payout ratio is 26.36%.

Vulcan Materials Company Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.