Eagle Materials, Inc. (NYSE:EXP) – Equities researchers at DA Davidson decreased their FY2019 earnings per share estimates for shares of Eagle Materials in a research note issued to investors on Tuesday, April 2nd, Zacks Investment Research reports. DA Davidson analyst B. Thielman now forecasts that the construction company will post earnings per share of $5.02 for the year, down from their prior estimate of $5.15. DA Davidson currently has a “Neutral” rating and a $83.50 price objective on the stock. DA Davidson also issued estimates for Eagle Materials’ Q4 2019 earnings at $0.70 EPS.
Several other brokerages have also weighed in on EXP. Citigroup increased their target price on Eagle Materials from $84.00 to $87.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Berenberg Bank assumed coverage on Eagle Materials in a research report on Wednesday, April 3rd. They issued a “buy” rating and a $103.00 target price on the stock. Macquarie set a $100.00 target price on Eagle Materials and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. TheStreet raised Eagle Materials from a “c+” rating to a “b-” rating in a research report on Monday, April 15th. Finally, Northcoast Research lowered Eagle Materials from a “buy” rating to a “neutral” rating in a research report on Friday, January 25th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $103.14.
Eagle Materials (NYSE:EXP) last posted its quarterly earnings results on Tuesday, January 29th. The construction company reported $1.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.30 by ($0.06). The firm had revenue of $333.30 million for the quarter, compared to analyst estimates of $357.08 million. Eagle Materials had a net margin of 16.77% and a return on equity of 17.49%. The business’s revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.08 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Friday, April 12th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Thursday, April 11th. Eagle Materials’s dividend payout ratio (DPR) is 9.48%.
In other news, Director Ed H. Bowman, Jr. sold 2,591 shares of the firm’s stock in a transaction on Thursday, January 31st. The stock was sold at an average price of $71.35, for a total transaction of $184,867.85. Following the transaction, the director now directly owns 12,977 shares of the company’s stock, valued at $925,908.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.70% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of EXP. Janus Henderson Group PLC increased its holdings in shares of Eagle Materials by 76.8% during the third quarter. Janus Henderson Group PLC now owns 5,248 shares of the construction company’s stock valued at $447,000 after purchasing an additional 2,280 shares during the period. Credit Suisse AG increased its holdings in shares of Eagle Materials by 4.6% during the third quarter. Credit Suisse AG now owns 46,599 shares of the construction company’s stock valued at $3,971,000 after purchasing an additional 2,033 shares during the period. FDx Advisors Inc. acquired a new position in shares of Eagle Materials during the third quarter valued at $299,000. Dimensional Fund Advisors LP increased its holdings in shares of Eagle Materials by 12.7% during the third quarter. Dimensional Fund Advisors LP now owns 466,996 shares of the construction company’s stock valued at $39,806,000 after purchasing an additional 52,527 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of Eagle Materials by 1,208.7% during the third quarter. Hsbc Holdings PLC now owns 49,430 shares of the construction company’s stock valued at $4,213,000 after purchasing an additional 45,653 shares during the period. 95.87% of the stock is currently owned by institutional investors.
About Eagle Materials
Eagle Materials Inc, through its subsidiaries, produces and supplies heavy construction materials, light building materials, and materials used for oil and natural gas extraction in the United States. It operates in five segments: Cement, Concrete and Aggregates, Gypsum Wallboard, Recycled Paperboard, and Oil and Gas Proppants.
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