Seaport Res Ptn Issues Negative Forecast for VMC Earnings

Vulcan Materials (NYSE:VMC) – Stock analysts at Seaport Res Ptn cut their Q3 2024 earnings per share estimates for shares of Vulcan Materials in a research report issued to clients and investors on Monday, October 28th. Seaport Res Ptn analyst R. Seth now expects that the construction company will post earnings of $2.30 per share for the quarter, down from their previous estimate of $2.85. The consensus estimate for Vulcan Materials’ current full-year earnings is $7.58 per share. Seaport Res Ptn also issued estimates for Vulcan Materials’ Q4 2024 earnings at $1.85 EPS, FY2024 earnings at $7.28 EPS, FY2025 earnings at $8.78 EPS and FY2026 earnings at $9.76 EPS.

Several other research firms have also recently commented on VMC. Barclays increased their price target on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday. Stephens lowered their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada dropped their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. Citigroup decreased their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, StockNews.com cut Vulcan Materials from a “hold” rating to a “sell” rating in a report on Saturday, October 12th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $273.50.

Vulcan Materials Trading Up 6.4 %

VMC opened at $276.19 on Wednesday. Vulcan Materials has a 1-year low of $195.70 and a 1-year high of $279.47. The stock has a market capitalization of $36.47 billion, a PE ratio of 40.32, a PEG ratio of 2.35 and a beta of 0.82. The company has a current ratio of 2.48, a quick ratio of 1.66 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $246.87 and a two-hundred day moving average price of $252.02.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Tuesday, August 6th. The construction company reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.47 by ($0.12). The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.03 billion. Vulcan Materials had a net margin of 12.07% and a return on equity of 12.19%. The business’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.29 earnings per share.

Hedge Funds Weigh In On Vulcan Materials

Several institutional investors have recently modified their holdings of the business. Cetera Advisors LLC lifted its stake in Vulcan Materials by 118.1% in the first quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock valued at $1,132,000 after buying an additional 2,245 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Vulcan Materials by 621.1% during the first quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after acquiring an additional 203,166 shares during the period. Mather Group LLC. lifted its position in Vulcan Materials by 16.1% in the 2nd quarter. Mather Group LLC. now owns 491 shares of the construction company’s stock valued at $134,000 after acquiring an additional 68 shares in the last quarter. Raymond James & Associates boosted its stake in Vulcan Materials by 3.0% in the 2nd quarter. Raymond James & Associates now owns 202,539 shares of the construction company’s stock worth $50,367,000 after purchasing an additional 5,979 shares during the period. Finally, Avantax Advisory Services Inc. boosted its stake in Vulcan Materials by 150.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,006 shares of the construction company’s stock worth $1,093,000 after purchasing an additional 2,404 shares during the period. Institutional investors own 90.39% of the company’s stock.

Vulcan Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 annualized dividend and a yield of 0.67%. Vulcan Materials’s dividend payout ratio is presently 26.86%.

About Vulcan Materials

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.