CRH (NYSE:CRH) Announces Quarterly Earnings Results, Misses Estimates By $0.68 EPS

CRH (NYSE:CRH) released its quarterly earnings results on Wednesday. The construction company reported $1.52 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.68), FiscalAI reports. CRH had a return on equity of 16.25% and a net margin of 9.30%.The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $11.15 billion.

CRH Stock Up 2.3%

CRH stock traded up $2.84 during trading on Wednesday, hitting $124.86. 5,563,405 shares of the company’s stock traded hands, compared to its average volume of 4,796,733. CRH has a 52 week low of $76.75 and a 52 week high of $131.55. The stock has a fifty day moving average price of $125.29 and a two-hundred day moving average price of $118.25. The stock has a market capitalization of $83.69 billion, a price-to-earnings ratio of 24.87, a price-to-earnings-growth ratio of 1.85 and a beta of 1.33.

Hedge Funds Weigh In On CRH

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. acquired a new stake in shares of CRH during the 4th quarter worth approximately $33,000. Meeder Asset Management Inc. grew its stake in CRH by 29,400.0% during the 4th quarter. Meeder Asset Management Inc. now owns 295 shares of the construction company’s stock worth $37,000 after buying an additional 294 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its position in CRH by 1,835.3% in the second quarter. Riggs Asset Managment Co. Inc. now owns 329 shares of the construction company’s stock worth $30,000 after buying an additional 312 shares during the period. Prosperity Bancshares Inc bought a new stake in CRH in the fourth quarter valued at $43,000. Finally, Johnson Financial Group Inc. acquired a new position in shares of CRH during the third quarter valued at $49,000. 62.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRH. Royal Bank Of Canada decreased their target price on shares of CRH from $152.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, November 7th. UBS Group boosted their price target on CRH from $138.00 to $147.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Citigroup raised their price objective on CRH from $142.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. BNP Paribas Exane raised CRH to a “strong-buy” rating in a research report on Friday, January 23rd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of CRH in a research report on Monday, December 22nd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, CRH has an average rating of “Moderate Buy” and a consensus price target of $135.87.

CRH Company Profile

CRH plc, originally formed as Cement Roadstone Holdings in 1970 and headquartered in Dublin, Ireland, is a global building materials group. The company has grown from its Irish roots into one of the largest international suppliers of construction materials, expanding primarily through acquisitions and regional business development. CRH operates an integrated network of manufacturing and distribution businesses that serve both public and private construction markets.

CRH’s core activities include the production and distribution of aggregates, cement, asphalt, ready-mixed concrete and other bulk materials, together with a broad range of value-added building products such as precast concrete, masonry, bricks, roofing products, pipe and drainage systems, and construction accessories.