Vulcan Materials Company (VMC) Expected to Announce Quarterly Sales of $1.13 Billion
Brokerages forecast that Vulcan Materials Company (NYSE:VMC) will announce sales of $1.13 billion for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Vulcan Materials’ earnings. The highest sales estimate is $1.14 billion and the lowest is $1.12 billion. Vulcan Materials posted sales of $1.01 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 11.9%. The firm is expected to report its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Vulcan Materials will report full year sales of $1.13 billion for the current financial year. For the next financial year, analysts anticipate that the company will report sales of $4.39 billion per share, with estimates ranging from $4.37 billion to $4.41 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Vulcan Materials.
Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, August 2nd. The construction company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by $0.32. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.07 billion. Vulcan Materials had a net margin of 11.28% and a return on equity of 8.72%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share.
A number of brokerages have recently commented on VMC. Zacks Investment Research lowered shares of Vulcan Materials from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Royal Bank Of Canada reiterated a “buy” rating and issued a $154.00 price target on shares of Vulcan Materials in a research note on Monday, June 19th. Jefferies Group LLC set a $114.00 price target on shares of Vulcan Materials and gave the stock a “hold” rating in a research note on Tuesday, August 22nd. Citigroup Inc. reiterated a “buy” rating on shares of Vulcan Materials in a research note on Thursday, May 11th. Finally, BidaskClub lowered shares of Vulcan Materials from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. Vulcan Materials presently has an average rating of “Hold” and a consensus target price of $136.00.
In related news, VP Ejaz A. Khan sold 2,024 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $125.30, for a total value of $253,607.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stanley G. Bass sold 4,413 shares of the firm’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $132.00, for a total transaction of $582,516.00. Following the completion of the transaction, the insider now directly owns 21,939 shares in the company, valued at approximately $2,895,948. The disclosure for this sale can be found here. In the last three months, insiders sold 6,743 shares of company stock worth $876,515. 0.89% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of VMC. BlackRock Inc. increased its position in Vulcan Materials by 2,909.7% in the first quarter. BlackRock Inc. now owns 8,067,195 shares of the construction company’s stock worth $971,936,000 after buying an additional 7,799,158 shares during the last quarter. Janus Henderson Group PLC increased its position in Vulcan Materials by 4,985.8% in the second quarter. Janus Henderson Group PLC now owns 4,209,593 shares of the construction company’s stock worth $533,271,000 after buying an additional 4,126,822 shares during the last quarter. Third Point LLC acquired a new position in Vulcan Materials during the second quarter worth about $202,688,000. MARSHALL WACE ASIA Ltd acquired a new position in Vulcan Materials during the first quarter worth about $138,381,000. Finally, Marshall Wace North America L.P. acquired a new position in Vulcan Materials during the first quarter worth about $138,381,000. 84.88% of the stock is currently owned by institutional investors.
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Vulcan Materials (VMC) opened at 113.13 on Monday. The firm has a 50-day moving average of $120.74 and a 200 day moving average of $122.57. The company has a market capitalization of $14.96 billion, a PE ratio of 36.42 and a beta of 0.93. Vulcan Materials has a 12-month low of $105.71 and a 12-month high of $138.18.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Wednesday, August 23rd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, August 21st. Vulcan Materials’s payout ratio is 32.36%.
About Vulcan Materials
Vulcan Materials Company is a supplier of construction aggregates (primarily crushed stone, sand and gravel) and a producer of asphalt mix and ready-mixed concrete. The Company operates through four segments: Aggregates, Asphalt Mix, Concrete and Calcium. The Aggregates segment produces and sells aggregates (crushed stone, sand and gravel, sand, and other aggregates) and related products and services (transportation and other).
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