Research Analysts Issue Forecasts for Vulcan Materials’ Q3 2022 Earnings (NYSE:VMC)

Vulcan Materials (NYSE:VMCGet Rating) – Research analysts at Jefferies Financial Group lowered their Q3 2022 earnings estimates for shares of Vulcan Materials in a report released on Wednesday, May 4th. Jefferies Financial Group analyst P. Ng now forecasts that the construction company will post earnings per share of $2.09 for the quarter, down from their prior estimate of $2.22. Jefferies Financial Group also issued estimates for Vulcan Materials’ Q4 2022 earnings at $1.80 EPS.

Vulcan Materials (NYSE:VMCGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The construction company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.11. The business had revenue of $1.54 billion during the quarter, compared to analysts’ expectations of $1.44 billion. Vulcan Materials had a net margin of 12.08% and a return on equity of 10.60%. The business’s revenue was up 44.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.69 EPS.

Several other brokerages have also recently weighed in on VMC. Morgan Stanley reduced their price objective on shares of Vulcan Materials from $232.00 to $224.00 and set an “equal weight” rating on the stock in a research note on Monday, April 18th. StockNews.com initiated coverage on Vulcan Materials in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Barclays raised their price objective on shares of Vulcan Materials from $239.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, January 13th. Citigroup dropped their target price on shares of Vulcan Materials from $231.00 to $224.00 in a research report on Friday, February 18th. Finally, Truist Financial raised their price target on shares of Vulcan Materials from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, February 22nd. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Vulcan Materials presently has an average rating of “Buy” and an average target price of $211.93.

Shares of Vulcan Materials stock opened at $177.08 on Friday. Vulcan Materials has a 1 year low of $163.00 and a 1 year high of $213.65. The firm has a market capitalization of $23.53 billion, a PE ratio of 39.35, a price-to-earnings-growth ratio of 1.14 and a beta of 0.70. The company has a current ratio of 2.21, a quick ratio of 1.53 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $178.62 and its 200 day moving average is $189.42.

Hedge funds have recently bought and sold shares of the company. First Trust Advisors LP lifted its stake in Vulcan Materials by 64.2% during the 1st quarter. First Trust Advisors LP now owns 34,452 shares of the construction company’s stock valued at $4,079,000 after acquiring an additional 13,476 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Vulcan Materials by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 51,576 shares of the construction company’s stock valued at $8,725,000 after purchasing an additional 568 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in Vulcan Materials by 4.8% during the third quarter. Russell Investments Group Ltd. now owns 29,892 shares of the construction company’s stock worth $5,064,000 after purchasing an additional 1,377 shares during the last quarter. Mackenzie Financial Corp grew its position in Vulcan Materials by 15.9% in the 3rd quarter. Mackenzie Financial Corp now owns 114,557 shares of the construction company’s stock worth $19,378,000 after purchasing an additional 15,748 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in Vulcan Materials by 5.4% in the 3rd quarter. Toronto Dominion Bank now owns 81,070 shares of the construction company’s stock valued at $13,714,000 after buying an additional 4,180 shares during the last quarter. Institutional investors own 88.38% of the company’s stock.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 14th. Shareholders of record on Tuesday, March 1st were issued a dividend of $0.40 per share. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Monday, February 28th. Vulcan Materials’s payout ratio is currently 35.56%.

About Vulcan Materials (Get Rating)

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 Aggregates segment 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.

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Earnings History and Estimates for Vulcan Materials (NYSE:VMC)

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