Q1 2024 Earnings Forecast for Vulcan Materials (NYSE:VMC) Issued By Seaport Res Ptn

Vulcan Materials (NYSE:VMC) – Stock analysts at Seaport Res Ptn reduced their Q1 2024 earnings estimates for Vulcan Materials in a research report issued on Thursday, April 25th. Seaport Res Ptn analyst R. Seth now forecasts that the construction company will post earnings of $0.78 per share for the quarter, down from their prior estimate of $1.45. The consensus estimate for Vulcan Materials’ current full-year earnings is $8.47 per share. Seaport Res Ptn also issued estimates for Vulcan Materials’ Q3 2024 earnings at $3.02 EPS and Q4 2024 earnings at $2.11 EPS.

Vulcan Materials (NYSE:VMC) last announced its quarterly earnings data on Friday, February 16th. The construction company reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.06. Vulcan Materials had a net margin of 11.99% and a return on equity of 12.80%. The firm had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the firm posted $1.08 earnings per share. The firm’s revenue was up 5.9% on a year-over-year basis.

A number of other analysts have also recently issued reports on the stock. Jefferies Financial Group lifted their target price on shares of Vulcan Materials from $298.00 to $319.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $270.00 target price (up from $245.00) on shares of Vulcan Materials in a research note on Friday, March 22nd. Morgan Stanley initiated coverage on shares of Vulcan Materials in a research note on Monday, January 8th. They issued an “equal weight” rating and a $208.00 target price for the company. Wolfe Research cut shares of Vulcan Materials from an “outperform” rating to a “peer perform” rating in a research note on Friday, March 8th. Finally, Raymond James lifted their target price on shares of Vulcan Materials from $225.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and a consensus target price of $273.00.

Vulcan Materials Stock Performance

Shares of VMC opened at $257.72 on Monday. The company’s 50 day moving average price is $265.11 and its 200 day moving average price is $235.73. Vulcan Materials has a 52 week low of $174.17 and a 52 week high of $276.58. The company has a market capitalization of $34.09 billion, a PE ratio of 36.92, a PEG ratio of 1.89 and a beta of 0.83. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.39 and a current ratio of 3.17.

Vulcan Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Vulcan Materials’s previous quarterly dividend of $0.43. The ex-dividend date was Friday, March 1st. Vulcan Materials’s payout ratio is presently 26.36%.

Insider Transactions at Vulcan Materials

In related news, VP Randy L. Pigg sold 307 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the transaction, the vice president now directly owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Randy L. Pigg sold 307 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.27, for a total transaction of $78,367.89. Following the completion of the transaction, the vice president now directly owns 1,896 shares in the company, valued at approximately $483,991.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stanley G. Bass sold 8,310 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $251.68, for a total transaction of $2,091,460.80. Following the transaction, the insider now owns 29,311 shares of the company’s stock, valued at $7,376,992.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,017 shares of company stock worth $3,344,741. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On Vulcan Materials

A number of hedge funds have recently made changes to their positions in VMC. Register Financial Advisors LLC acquired a new stake in shares of Vulcan Materials during the 1st quarter worth about $27,000. Exchange Traded Concepts LLC acquired a new stake in Vulcan Materials in the 4th quarter valued at about $28,000. Opal Wealth Advisors LLC acquired a new stake in Vulcan Materials in the 1st quarter valued at about $33,000. YHB Investment Advisors Inc. acquired a new stake in Vulcan Materials in the 1st quarter valued at about $34,000. Finally, Concord Wealth Partners acquired a new stake in Vulcan Materials in the 1st quarter valued at about $34,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

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.