Seaport Res Ptn Analysts Lower Earnings Estimates for VMC

Vulcan Materials (NYSE:VMC) – Investment analysts at Seaport Res Ptn reduced their Q3 2024 earnings per share (EPS) estimates for Vulcan Materials in a note issued to investors on Monday, October 28th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will earn $2.30 per share for the quarter, down from their previous forecast 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 brokerages have also recently commented on VMC. Barclays boosted their price objective on shares of Vulcan Materials from $250.00 to $285.00 and gave the company an “overweight” rating in a research note on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Royal Bank of Canada decreased their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 7th. Truist Financial cut their price objective on shares of Vulcan Materials from $320.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, August 7th. Finally, Citigroup decreased their price objective on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.50.

Vulcan Materials Price Performance

Shares of NYSE:VMC opened at $273.94 on Wednesday. Vulcan Materials has a twelve month low of $195.70 and a twelve month high of $279.47. The firm has a market capitalization of $36.18 billion, a PE ratio of 39.99, a P/E/G ratio of 2.35 and a beta of 0.82. The company has a quick ratio of 1.66, a current ratio of 2.48 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $247.39 and a two-hundred day moving average price of $252.18.

Vulcan Materials (NYSE:VMC) last issued its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). Vulcan Materials had a return on equity of 12.19% and a net margin of 12.07%. The company had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period last year, the firm posted $2.29 earnings per share. Vulcan Materials’s quarterly revenue was down 8.3% compared to the same quarter last year.

Institutional Investors Weigh In On Vulcan Materials

Several hedge funds and other institutional investors have recently made changes to their positions in VMC. Cetera Advisors LLC increased its stake in Vulcan Materials by 118.1% in the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock worth $1,132,000 after buying an additional 2,245 shares during the period. Nordea Investment Management AB lifted its position in shares of Vulcan Materials by 621.1% in the 1st quarter. Nordea Investment Management AB now owns 235,879 shares of the construction company’s stock worth $64,581,000 after purchasing an additional 203,166 shares during the period. Mather Group LLC. boosted its position in Vulcan Materials by 16.1% during 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 raised its position in shares of 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 acquiring an additional 5,979 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its stake in Vulcan Materials by 150.1% in the first quarter. Avantax Advisory Services Inc. now owns 4,006 shares of the construction company’s stock valued at $1,093,000 after purchasing an additional 2,404 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Vulcan Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Monday, November 4th will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a yield of 0.67%. Vulcan Materials’s dividend payout ratio (DPR) is presently 26.86%.

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.