On Jan 12, Valmont lowered its earnings outlook for 2014 in the band of $8.10 to $8.20 per share, down from its prior view of $8.55 and $8.65.
This slump shouldn’t be too much of a surprise to investors, as the steel-pipe & tube company has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
VMI currently has a Zacks Rank #4 (Sell) while its Earnings ESP is negative.
Another better-ranked stock in the same sector is Synalloy Corporation (SYNL).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment