Jefferies Financial Group Analysts Boost Earnings Estimates for Vale S.A. (NYSE:VALE)

Vale S.A. (NYSE:VALEGet Rating) – Jefferies Financial Group increased their FY2023 earnings per share (EPS) estimates for Vale in a research report issued to clients and investors on Monday, May 2nd. Jefferies Financial Group analyst C. Lafemina now expects that the basic materials company will earn $2.97 per share for the year, up from their previous forecast of $2.90. Jefferies Financial Group 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 $3.40 EPS and FY2025 earnings at $3.31 EPS.

Vale (NYSE:VALEGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The basic materials company reported $1.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.57. The company had revenue of $13.11 billion during the quarter, compared to the consensus estimate of $12.98 billion. Vale had a return on equity of 66.28% and a net margin of 40.09%.

Other analysts also recently issued reports about the company. HSBC raised Vale from a “hold” rating to a “buy” rating and lifted their price target for the stock from $17.25 to $21.50 in a report on Thursday, March 3rd. Zacks Investment Research raised Vale from a “hold” rating to a “strong-buy” rating and set a $20.00 price target for the company in a report on Tuesday, February 15th. Deutsche Bank Aktiengesellschaft downgraded Vale from a “buy” rating to a “hold” rating and boosted their target price for the company from $20.00 to $22.00 in a report on Tuesday, April 5th. They noted that the move was a valuation call. Exane BNP Paribas raised Vale from a “neutral” rating to an “outperform” rating and set a $20.50 target price for the company in a report on Wednesday, February 9th. Finally, Morgan Stanley downgraded Vale from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $19.00 to $22.00 in a report on Wednesday, March 23rd. One investment 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. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $19.88.

Shares of NYSE VALE opened at $16.64 on Wednesday. The company has a market capitalization of $83.18 billion, a price-to-earnings ratio of 3.92, a price-to-earnings-growth ratio of 1.06 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.33 and a quick ratio of 0.98. The business has a 50-day moving average of $18.93 and a two-hundred day moving average of $15.89. Vale has a 1 year low of $11.16 and a 1 year high of $23.17.

The business also recently declared a semi-annual dividend, which was paid on Wednesday, March 23rd. Investors of record on Thursday, March 10th were given a $0.718 dividend. This represents a yield of 14.2%. The ex-dividend date of this dividend was Wednesday, March 9th. This is a boost from Vale’s previous semi-annual dividend of $0.68. Vale’s payout ratio is 34.12%.

Hedge funds have recently modified their holdings of the stock. 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. acquired a new position in Vale during the 4th quarter worth approximately $1,036,000. Spire Wealth Management increased its position in 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 during the period. Moore Capital Management LP acquired a new position in Vale during the 3rd quarter worth approximately $5,483,000. Finally, MML Investors Services LLC increased its position in 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 during the period. Hedge funds and other institutional investors own 23.37% of the company’s stock.

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.

Featured Articles

Earnings History and Estimates for Vale (NYSE:VALE)

Receive News & Ratings for Vale Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vale and related companies with MarketBeat.com's FREE daily email newsletter.