Eagle Materials (NYSE:EXP) Given New $233.00 Price Target at Citigroup

Eagle Materials (NYSE:EXP) had its target price trimmed by Citigroup from $255.00 to $233.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the construction company’s stock.

Other research analysts also recently issued reports about the company. Zacks Research downgraded Eagle Materials from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 22nd. Wall Street Zen raised Eagle Materials from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eagle Materials in a report on Wednesday, October 8th. Stifel Nicolaus set a $246.00 price objective on Eagle Materials in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price objective on Eagle Materials from $220.00 to $245.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Eagle Materials presently has a consensus rating of “Hold” and an average target price of $253.20.

Eagle Materials Trading Down 1.0%

Shares of NYSE:EXP opened at $212.40 on Friday. The company has a market cap of $6.89 billion, a P/E ratio of 15.64 and a beta of 1.31. The company has a debt-to-equity ratio of 0.87, a current ratio of 2.73 and a quick ratio of 1.26. Eagle Materials has a 1 year low of $191.91 and a 1 year high of $321.93. The stock’s fifty day moving average price is $232.61 and its 200-day moving average price is $222.85.

Eagle Materials (NYSE:EXP) last announced its quarterly earnings results on Thursday, October 30th. The construction company reported $4.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.12). The business had revenue of $638.91 million for the quarter, compared to the consensus estimate of $635.55 million. Eagle Materials had a net margin of 19.81% and a return on equity of 31.21%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.31 earnings per share. Sell-side analysts expect that Eagle Materials will post 14.39 earnings per share for the current year.

Eagle Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Stockholders of record on Monday, September 15th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. Eagle Materials’s dividend payout ratio (DPR) is 7.36%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in EXP. Norges Bank bought a new position in shares of Eagle Materials in the second quarter worth about $87,626,000. JPMorgan Chase & Co. raised its stake in shares of Eagle Materials by 18.8% in the first quarter. JPMorgan Chase & Co. now owns 2,140,621 shares of the construction company’s stock worth $475,068,000 after buying an additional 339,089 shares during the period. Baupost Group LLC MA raised its stake in shares of Eagle Materials by 42.5% in the first quarter. Baupost Group LLC MA now owns 909,633 shares of the construction company’s stock worth $201,875,000 after buying an additional 271,410 shares during the period. American Century Companies Inc. raised its stake in shares of Eagle Materials by 80.9% in the second quarter. American Century Companies Inc. now owns 521,276 shares of the construction company’s stock worth $105,356,000 after buying an additional 233,153 shares during the period. Finally, William Blair Investment Management LLC raised its stake in shares of Eagle Materials by 57.2% in the second quarter. William Blair Investment Management LLC now owns 611,745 shares of the construction company’s stock worth $123,640,000 after buying an additional 222,537 shares during the period. Institutional investors own 96.07% of the company’s stock.

Eagle Materials Company Profile

Eagle Materials Inc, through its subsidiaries, manufactures and sells heavy construction materials and light building materials in the United States. It operates in four segments: Cement, Concrete and Aggregates, Gypsum Wallboard, and Recycled Paperboard. The company engages in the mining of limestone for the manufacture, production, distribution, and sale of Portland cement, including Portland limestone cement; grinding and sale of slag; and mining of gypsum for the manufacture and sale of gypsum wallboards used to finish the interior walls and ceilings in residential, commercial, and industrial structures, as well as well as containerboard and lightweight packaging grades; manufacture and sale of recycled paperboard to the gypsum wallboard industry and other paperboard converters; the sale of readymix concrete; and mining and sale of aggregates, such as crushed stone, sand, and gravel.