BidaskClub Lowers Eagle Materials Inc (EXP) to Strong Sell
BidaskClub downgraded shares of Eagle Materials Inc (NYSE:EXP) from a sell rating to a strong sell rating in a research note issued to investors on Thursday.
Several other equities analysts have also recently issued reports on EXP. Zacks Investment Research cut Eagle Materials from a buy rating to a hold rating in a research note on Monday, July 24th. Stephens upgraded Eagle Materials from an equal weight rating to an overweight rating in a research note on Tuesday, May 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $102.00.
Shares of Eagle Materials (NYSE EXP) traded up 2.95% during trading on Thursday, reaching $94.01. 306,057 shares of the company’s stock were exchanged. The company has a market capitalization of $4.56 billion, a P/E ratio of 21.86 and a beta of 1.23. The stock has a 50-day moving average price of $93.08 and a 200 day moving average price of $98.05. Eagle Materials has a 12-month low of $73.27 and a 12-month high of $110.64.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Thursday, July 27th. The construction company reported $1.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.17. The business had revenue of $366.10 million during the quarter, compared to analysts’ expectations of $369.68 million. Eagle Materials had a return on equity of 18.29% and a net margin of 16.23%. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS. Equities analysts expect that Eagle Materials will post $5.40 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, July 21st. Investors of record on Wednesday, June 21st were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.44%. The ex-dividend date was Monday, June 19th. Eagle Materials’s payout ratio is 9.30%.
In related news, EVP James H. Graass sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $101.00, for a total transaction of $1,010,000.00. Following the completion of the sale, the executive vice president now owns 69,653 shares in the company, valued at $7,034,953. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David B. Powers sold 11,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $99.03, for a total value of $1,089,330.00. Following the sale, the chief executive officer now owns 73,400 shares of the company’s stock, valued at approximately $7,268,802. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Eagle Materials during the fourth quarter valued at $681,000. USA Financial Portformulas Corp acquired a new stake in Eagle Materials during the fourth quarter valued at $395,000. Teachers Advisors LLC boosted its stake in Eagle Materials by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 286,551 shares of the construction company’s stock valued at $28,234,000 after buying an additional 12,315 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Eagle Materials during the fourth quarter valued at $2,956,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in Eagle Materials during the first quarter valued at $25,966,000. Hedge funds and other institutional investors own 92.44% of the company’s stock.
About Eagle Materials
Eagle Materials Inc is a supplier of construction products, building materials and materials used for oil and natural gas extraction. The Company operates through five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants. The Company’s construction products are used in residential, industrial, commercial and infrastructure construction, and include cement, slag, concrete and aggregates.
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