Eagle Materials (NYSE:EXP) Releases Quarterly Earnings Results, Misses Estimates By $0.44 EPS

Eagle Materials (NYSE:EXP) issued its quarterly earnings results on Tuesday. The construction company reported $4.31 EPS for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.44), Briefing.com reports. The business had revenue of $623.62 million for the quarter, compared to analyst estimates of $651.46 million. Eagle Materials had a net margin of 21.65% and a return on equity of 37.10%. Eagle Materials’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the business posted $4.28 earnings per share.

Eagle Materials Trading Up 2.1 %

EXP stock traded up $5.92 during mid-day trading on Wednesday, reaching $288.84. 128,630 shares of the stock traded hands, compared to its average volume of 307,407. Eagle Materials has a 52-week low of $152.59 and a 52-week high of $306.36. The stock’s fifty day moving average is $276.18 and its 200-day moving average is $252.51. The company has a market cap of $9.78 billion, a P/E ratio of 21.32 and a beta of 1.32. The company has a current ratio of 2.45, a quick ratio of 1.17 and a debt-to-equity ratio of 0.81.

Eagle Materials Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Tuesday, September 17th were paid a $0.25 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $1.00 dividend on an annualized basis and a yield of 0.35%. Eagle Materials’s dividend payout ratio is currently 7.34%.

Insiders Place Their Bets

In other news, Director George John Damiris sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $277.62, for a total value of $277,620.00. Following the completion of the sale, the director now owns 7,943 shares of the company’s stock, valued at $2,205,135.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on EXP shares. Citigroup raised their target price on shares of Eagle Materials from $252.00 to $311.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Raymond James cut Eagle Materials from a “moderate buy” rating to a “hold” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. increased their price target on Eagle Materials from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group boosted their price objective on Eagle Materials from $277.00 to $317.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Jefferies Financial Group raised their target price on Eagle Materials from $309.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $302.67.

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.