Zacks: Brokerages Anticipate Eagle Materials Inc (EXP) Will Announce Quarterly Sales of $415.20 Million
Equities analysts expect Eagle Materials Inc (NYSE:EXP) to announce sales of $415.20 million for the current quarter, according to Zacks. Two analysts have made estimates for Eagle Materials’ earnings, with the lowest sales estimate coming in at $413.70 million and the highest estimate coming in at $416.70 million. Eagle Materials posted sales of $332.66 million in the same quarter last year, which suggests a positive year over year growth rate of 24.8%. The business is expected to announce its next quarterly earnings report on Monday, October 23rd.
On average, analysts expect that Eagle Materials will report full year sales of $415.20 million for the current financial year, with estimates ranging from $1.48 billion to $1.49 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.65 billion per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Eagle Materials.
Eagle Materials (NYSE:EXP) last issued its quarterly earnings results on Thursday, July 27th. The construction company reported $1.17 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.17. Eagle Materials had a net margin of 16.23% and a return on equity of 18.29%. The company had revenue of $366.10 million during the quarter, compared to the consensus estimate of $369.68 million. During the same period in the prior year, the company earned $0.93 EPS. Eagle Materials’s revenue was up 23.1% on a year-over-year basis.
Several research analysts have issued reports on the company. Zacks Investment Research lowered Eagle Materials from a “buy” rating to a “hold” rating in a report on Friday, May 19th. BidaskClub lowered Eagle Materials from a “sell” rating to a “strong sell” rating in a report on Thursday, July 27th. Citigroup Inc. upgraded Eagle Materials from a “neutral” rating to a “buy” rating and cut their price target for the stock from $115.00 to $110.00 in a report on Monday, July 31st. Finally, Stephens upgraded Eagle Materials from an “equal weight” rating to an “overweight” rating in a report on Tuesday, May 30th. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $107.00.
In other news, CEO David B. Powers sold 11,317 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $93.57, for a total value of $1,058,931.69. Following the completion of the sale, the chief executive officer now directly owns 106,580 shares of the company’s stock, valued at $9,972,690.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gerald J. Essl sold 2,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $93.40, for a total value of $186,800.00. Following the completion of the sale, the insider now directly owns 39,859 shares of the company’s stock, valued at $3,722,830.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,774 shares of company stock valued at $6,798,741. Company insiders own 4.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bank of Montreal Can increased its position in shares of Eagle Materials by 103.1% during the first quarter. Bank of Montreal Can now owns 6,287 shares of the construction company’s stock valued at $610,000 after acquiring an additional 3,192 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Eagle Materials by 16.3% during the first quarter. Acadian Asset Management LLC now owns 4,537 shares of the construction company’s stock valued at $441,000 after acquiring an additional 636 shares during the last quarter. IFP Advisors Inc increased its position in shares of Eagle Materials by 38.1% during the first quarter. IFP Advisors Inc now owns 1,092 shares of the construction company’s stock valued at $106,000 after acquiring an additional 301 shares during the last quarter. Great West Life Assurance Co. Can increased its position in shares of Eagle Materials by 5.0% during the first quarter. Great West Life Assurance Co. Can now owns 28,711 shares of the construction company’s stock valued at $2,788,000 after acquiring an additional 1,365 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Eagle Materials by 231.8% during the first quarter. First Trust Advisors LP now owns 124,716 shares of the construction company’s stock valued at $12,115,000 after acquiring an additional 87,129 shares during the last quarter. 91.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Eagle Materials (NYSE EXP) opened at 100.47 on Friday. Eagle Materials has a one year low of $73.27 and a one year high of $110.64. The firm has a market capitalization of $4.87 billion, a P/E ratio of 23.36 and a beta of 1.18. The firm has a 50-day moving average of $93.68 and a 200-day moving average of $95.71.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Stockholders of record on Friday, October 6th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Thursday, October 5th. Eagle Materials’s dividend payout ratio (DPR) is presently 9.30%.
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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