FY2023 Earnings Forecast for Vale S.A. (NYSE:VALE) Issued By Jefferies Financial Group

Vale S.A. (NYSE:VALE – Get Rating) – Equities research analysts at Jefferies Financial Group lifted their FY2023 earnings estimates for shares of Vale in a research report issued to clients and investors on Tuesday, April 19th. Jefferies Financial Group analyst C. Lafemina now forecasts that the basic materials company will earn $2.90 per share for the year, up from their previous forecast of $2.88. Jefferies Financial Group currently has a “Hold” rating and a $23.00 price target on the stock. Jefferies Financial Group also issued estimates for Vale’s FY2024 earnings at $3.35 EPS and FY2025 earnings at $3.22 EPS.

Vale (NYSE:VALE – Get Rating) last posted its quarterly earnings results on Thursday, February 24th. The basic materials company reported $1.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.57. Vale had a net margin of 40.73% and a return on equity of 73.17%. The firm had revenue of $13.11 billion for the quarter, compared to the consensus estimate of $12.98 billion.

A number of other research analysts have also recently issued reports on VALE. Exane BNP Paribas raised Vale from a “neutral” rating to an “outperform” rating and set a $20.50 price target for the company in a report on Wednesday, February 9th. BNP Paribas upgraded Vale from a “neutral” rating to an “outperform” rating and set a $20.50 target price for the company in a research report on Wednesday, February 9th. StockNews.com upgraded Vale from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 11th. Zacks Investment Research upgraded Vale from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Tuesday, February 15th. Finally, Morgan Stanley lowered Vale from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $19.00 to $22.00 in a research report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $20.04.

Vale stock opened at $18.45 on Thursday. The stock has a 50-day simple moving average of $19.02 and a 200 day simple moving average of $15.74. The company has a quick ratio of 1.18, a current ratio of 1.47 and a debt-to-equity ratio of 0.45. Vale has a 12-month low of $11.16 and a 12-month high of $23.17. The stock has a market capitalization of $92.23 billion, a price-to-earnings ratio of 4.18, a P/E/G ratio of 0.62 and a beta of 0.90.

Large investors have recently added to or reduced their stakes in the business. National Bank of Canada FI acquired a new position in Vale during the 4th quarter worth approximately $14,162,000. JGP Global Gestao de Recursos Ltda. bought a new stake in shares of Vale during the 4th quarter worth approximately $1,036,000. Spire Wealth Management raised its stake in shares of Vale by 40.7% during the 4th quarter. Spire Wealth Management now owns 3,798 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 1,098 shares in the last quarter. Moore Capital Management LP bought a new stake in shares of Vale during the 3rd quarter worth approximately $5,483,000. Finally, MML Investors Services LLC raised its stake in shares of Vale by 6.3% during the 3rd quarter. MML Investors Services LLC now owns 99,847 shares of the basic materials company’s stock worth $1,393,000 after purchasing an additional 5,878 shares in the last quarter.

The company also recently declared a semi-annual dividend, which was paid on Wednesday, March 23rd. Shareholders of record on Thursday, March 10th were given a dividend of $0.718 per share. The ex-dividend date of this dividend was Wednesday, March 9th. This represents a yield of 14.2%. This is an increase from Vale’s previous semi-annual dividend of $0.68. Vale’s dividend payout ratio is 32.88%.

About Vale (Get Rating)

Vale SA, together with its subsidiaries, produces and sells iron ore and iron ore pellets for use as raw materials in steelmaking in Brazil and internationally. The company operates through Ferrous Minerals and Base Metals segments. The Ferrous Minerals segment produces and extracts iron ore and pellets, manganese, ferroalloys, and other ferrous products; and provides related logistic services.

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