Wall Street brokerages expect that Valmont Industries, Inc. (NYSE:VMI) will announce $1.89 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Valmont Industries’ earnings. The lowest EPS estimate is $1.87 and the highest is $1.90. Valmont Industries posted earnings per share of $1.67 during the same quarter last year, which would indicate a positive year over year growth rate of 13.2%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, February 20th.
According to Zacks, analysts expect that Valmont Industries will report full year earnings of $7.57 per share for the current year, with EPS estimates ranging from $7.55 to $7.60. For the next financial year, analysts anticipate that the business will report earnings of $8.54 per share, with EPS estimates ranging from $8.19 to $8.75. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Valmont Industries.
Get Valmont Industries alerts:VMI has been the topic of a number of research reports. Zacks Investment Research raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Monday, February 11th. ValuEngine raised shares of Valmont Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Valmont Industries in a research note on Wednesday, October 24th. Four investment analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $165.00.
Shares of Valmont Industries stock traded up $0.67 during trading on Tuesday, hitting $136.41. The stock had a trading volume of 105,350 shares, compared to its average volume of 121,039. Valmont Industries has a 12 month low of $103.01 and a 12 month high of $159.95. The firm has a market capitalization of $3.01 billion, a PE ratio of 19.57, a price-to-earnings-growth ratio of 1.65 and a beta of 1.25. The company has a current ratio of 3.40, a quick ratio of 2.40 and a debt-to-equity ratio of 0.65.
Valmont Industries announced that its board has initiated a share buyback program on Wednesday, October 31st that allows the company to buyback $250.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 9.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
Institutional investors have recently added to or reduced their stakes in the company. Foundry Partners LLC lifted its position in Valmont Industries by 13.6% in the third quarter. Foundry Partners LLC now owns 10,313 shares of the industrial products company’s stock valued at $1,428,000 after buying an additional 1,238 shares during the last quarter. Retirement Systems of Alabama increased its stake in Valmont Industries by 2.1% in the third quarter. Retirement Systems of Alabama now owns 65,863 shares of the industrial products company’s stock valued at $9,122,000 after purchasing an additional 1,366 shares during the last quarter. First Trust Advisors LP increased its stake in Valmont Industries by 25.2% in the third quarter. First Trust Advisors LP now owns 111,391 shares of the industrial products company’s stock valued at $15,428,000 after purchasing an additional 22,413 shares during the last quarter. Cambiar Investors LLC purchased a new position in shares of Valmont Industries during the third quarter worth approximately $5,032,000. Finally, Rice Hall James & Associates LLC purchased a new position in shares of Valmont Industries during the third quarter worth approximately $1,500,000. 91.92% of the stock is owned by institutional investors and hedge funds.
Valmont Industries Company Profile
Valmont Industries, Inc produces and sells fabricated metal products in the United States and internationally. It operates through four segments: Engineered Support Structures, Utility Support Structures, Coatings, and Irrigation. The Engineered Support Structures segment manufactures and distributes engineered metal, and composite structures and components for the lighting and traffic, wireless communication, and roadway safety industries.
Further Reading: Trading Strategy Methods and Types
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
No comments :
Post a Comment