Northcoast Research Comments on Eagle Materials, Inc.’s FY2019 Earnings (EXP)
Eagle Materials, Inc. (NYSE:EXP) – Equities research analysts at Northcoast Research increased their FY2019 earnings per share (EPS) estimates for Eagle Materials in a research report issued to clients and investors on Wednesday. Northcoast Research analyst K. Hocevar now forecasts that the construction company will earn $6.50 per share for the year, up from their prior forecast of $6.00.
Several other equities research analysts have also weighed in on EXP. Stifel Nicolaus decreased their price objective on Eagle Materials from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Zacks Investment Research raised Eagle Materials from a “sell” rating to a “hold” rating in a report on Monday. Finally, Citigroup lifted their price objective on Eagle Materials from $121.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Eagle Materials currently has a consensus rating of “Hold” and an average target price of $135.00.
Eagle Materials (NYSE:EXP) last announced its quarterly earnings data on Wednesday, January 31st. The construction company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.20. Eagle Materials had a return on equity of 18.66% and a net margin of 18.53%. The company had revenue of $359.40 million during the quarter, compared to analyst estimates of $364.52 million. During the same quarter last year, the firm posted $1.17 EPS. The firm’s revenue for the quarter was up 18.8% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of EXP. Tower Research Capital LLC TRC boosted its position in shares of Eagle Materials by 474.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,149 shares of the construction company’s stock valued at $106,000 after acquiring an additional 949 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of Eagle Materials during the 3rd quarter valued at about $201,000. Cigna Investments Inc. New bought a new stake in shares of Eagle Materials during the 4th quarter valued at about $205,000. HM Payson & Co. bought a new stake in shares of Eagle Materials during the 3rd quarter valued at about $225,000. Finally, Ingalls & Snyder LLC bought a new stake in shares of Eagle Materials during the 4th quarter valued at about $234,000. Hedge funds and other institutional investors own 91.58% of the company’s stock.
In other Eagle Materials news, insider Gerald J. Essl sold 10,000 shares of Eagle Materials stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $113.77, for a total transaction of $1,137,700.00. Following the completion of the transaction, the insider now owns 24,380 shares of the company’s stock, valued at approximately $2,773,712.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Haack sold 6,731 shares of Eagle Materials stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $115.00, for a total value of $774,065.00. Following the transaction, the chief operating officer now directly owns 28,136 shares of the company’s stock, valued at approximately $3,235,640. The disclosure for this sale can be found here. Insiders have sold a total of 61,623 shares of company stock valued at $6,930,994 in the last ninety days. Insiders own 4.10% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 11th. Shareholders of record on Thursday, April 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Wednesday, April 11th. Eagle Materials’s payout ratio is presently 7.59%.
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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