Valmont Industries, Inc. (NYSE:VMI):
Valmont Industries, Inc. Second Quarter 2017 Earnings Conference Call.
The company is now up since yesterday’s close of $149.9.
Additionally Valmont Industries, Inc. announced a dividend that will be paid on Friday the 14th of July 2017. The dividend will be $0.375 per share for the quarter which is $1.50 annualized. This dividend represents a yield of $0.99. The ex-dividend date has been established as Wednesday the 28th of June 2017.
Valmont Industries, Inc., launched on August 2, 1974, is a producer of fabricated metal products, and steel, aluminum and composite pole, tower and other structures, and mechanized irrigation systems. The Business’s segments are Engineered Support Structures (ESS); Utility Support Structures; Energy and Mining; Coatings; Irrigation, and Other. Within its Energy and Mining segment, the Company manufactures industrial access systems, grinding media used in mining operations, and complex steel structures used in wind energy and utility transmission applications outside the United States. It also provides metal coating services, including galvanizing, painting and anodizing in its Coatings segment. Its products sold through the ESS segment include outdoor lighting, traffic control, and roadway safety structures, wireless communication structures and components. Its pole structures sold through Utility segment support electrical transmission and distribution lines and related power distribution equipment. Its Irrigation segment produces mechanized irrigation equipment that delivers water, chemical fertilizers and pesticides to agricultural crops. Its customers and end users include state and federal governments, contractors, utility and telecommunications companies, manufacturers of commercial lighting fixtures and large farms, as well as the general manufacturing sector..
Shares are trading at $151.65 a tad above $148.74, the stock’s 50 day moving average and a bit higher than the 200 day moving average of $148.92. The 50 day moving average went up by +1.96% and the 200 day average went up by +1.84%.
Valmont Industries, Inc. currently has a P/E ratio of 19.19 and the market cap of the company is 3.42B. As of the last earnings report the EPS was $7.90 and is projected to be $7.08 for the current year with 22,584,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $1.61 and the next full year EPS is anticipated to be $7.92.
Several brokerage analysts have issued ratings on the company. On October 27 Credit Suisse kept the stock rating at “Underperform” and moved down the price target to $132.00 from $144.00. October 27 investment analysts at DA Davidson made no change to the stock rating of “Buy” but moved down the price target from $178.00 to $155.00.
On September 22 the company was rated “Neutral” in a report from Sterne Agee which was a cut from the previous “Buy” rating. On June 25 Credit Suisse held the stock rating at “Underperform” and lowered the price expectation to $144.00 from $149.00.
Wedbush both downgraded the stock and lowered the price target on June 25 changing the price target from $167.00 to $157.00 and cutting the rating from “Outperform” to “Neutral”. On June 25 the company was downgraded from “Outperform” to “Neutral” and a price target of $157.00 was set in a statement from Wedbush.