Zacks Research Has Bearish Forecast for VMC FY2024 Earnings

Vulcan Materials (NYSE:VMC) – Investment analysts at Zacks Research decreased their FY2024 earnings per share (EPS) estimates for shares of Vulcan Materials in a research report issued on Wednesday, November 20th. Zacks Research analyst A. Gupta now anticipates that the construction company will post earnings of $7.09 per share for the year, down from their prior forecast of $7.45. The consensus estimate for Vulcan Materials’ current full-year earnings is $7.16 per share. Zacks Research also issued estimates for Vulcan Materials’ Q4 2024 earnings at $1.72 EPS, Q2 2025 earnings at $2.91 EPS, Q3 2025 earnings at $2.75 EPS, Q4 2025 earnings at $2.10 EPS and FY2025 earnings at $8.73 EPS.

VMC has been the topic of several other reports. Royal Bank of Canada cut their target price on Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Truist Financial boosted their target price on Vulcan Materials from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Friday, November 1st. UBS Group started coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. 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 report on Tuesday, October 29th. Finally, Stephens decreased their price objective on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $280.46.

Vulcan Materials Price Performance

VMC stock opened at $284.61 on Friday. The stock has a market capitalization of $37.59 billion, a price-to-earnings ratio of 44.89, a PEG ratio of 2.72 and a beta of 0.81. The firm’s 50-day moving average price is $261.25 and its two-hundred day moving average price is $254.63. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 12-month low of $209.60 and a 12-month high of $298.31.

Vulcan Materials (NYSE:VMC) last issued its earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $2.01 billion. Vulcan Materials had a return on equity of 11.88% and a net margin of 11.43%. The firm’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.29 earnings per share.

Institutional Investors Weigh In On Vulcan Materials

A number of institutional investors have recently modified their holdings of VMC. Cetera Advisors LLC grew its position in Vulcan Materials by 118.1% during the 1st quarter. Cetera Advisors LLC now owns 4,146 shares of the construction company’s stock valued at $1,132,000 after purchasing an additional 2,245 shares during the last quarter. Mather Group LLC. increased its position in shares of Vulcan Materials by 16.1% during the second 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 holdings 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 acquiring an additional 5,979 shares during the last quarter. Tidal Investments LLC raised its holdings in Vulcan Materials by 87.1% in the 1st quarter. Tidal Investments LLC now owns 9,591 shares of the construction company’s stock worth $2,618,000 after acquiring an additional 4,466 shares during the last quarter. Finally, California State Teachers Retirement System boosted its stake in Vulcan Materials by 3.3% during the 1st quarter. California State Teachers Retirement System now owns 237,309 shares of the construction company’s stock valued at $64,766,000 after purchasing an additional 7,552 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Vulcan Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.65%. Vulcan Materials’s dividend payout ratio is currently 29.02%.

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.