Vale (NYSE:VALE) Announces Quarterly Earnings Results, Misses Expectations By $0.09 EPS

Vale (NYSE:VALE) announced its quarterly earnings results on Thursday. The basic materials company reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.09), Zacks reports. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.45 billion. Vale had a net margin of 1.64% and a return on equity of 16.72%.

Vale Stock Performance

Shares of VALE traded up $0.22 during mid-day trading on Friday, hitting $11.40. 47,391,345 shares of the company’s stock were exchanged, compared to its average volume of 40,834,808. Vale has a fifty-two week low of $11.06 and a fifty-two week high of $17.94. The firm has a market capitalization of $51.74 billion, a P/E ratio of 76.01 and a beta of 0.42. The business’s 50 day moving average is $13.87 and its two-hundred day moving average is $15.24. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.45.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group reduced their target price on Vale from $15.00 to $14.50 and set a “neutral” rating for the company in a report on Wednesday, October 21st. Morgan Stanley set a $15.50 price target on Vale in a research note on Wednesday, October 7th. The Goldman Sachs Group lowered Vale from a “buy” rating to a “neutral” rating and cut their price target for the stock from $18.00 to $16.00 in a research report on Monday, July 27th. Weiss Ratings lowered Vale from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Barclays reduced their price objective on Vale from $17.00 to $15.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 13th. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.71.

Vale Company Profile

Vale SA is a Brazil-based global mining and logistics company best known for producing iron ore and iron ore pellets, key raw materials used in steelmaking. The company also produces nickel, copper, manganese ore, coal and other mineral products, with operations spanning exploration, extraction, processing and transportation.

Vale operates an extensive logistics network that includes railways, ports and maritime transportation systems, primarily supporting the movement of minerals from its production sites to domestic and international customers.